{"id":650805,"date":"2024-10-10T00:00:00","date_gmt":"2024-10-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/10\/mb-engineering-led-consortium-acquired-51-in-maven-cables\/"},"modified":"2024-10-10T00:00:00","modified_gmt":"2024-10-10T00:00:00","slug":"mb-engineering-led-consortium-acquired-51-in-maven-cables","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/10\/mb-engineering-led-consortium-acquired-51-in-maven-cables\/","title":{"rendered":"MB Engineering-led consortium acquired 51% in Maven Cables"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>MB Engineering-led consortium snaps up 51% of Maven Cables: <\/strong>A consortium led by industrial outfit MB Group subsidiary MB Engineering has acquired 51% of local electric cables and building wires manufacturer and local property developer <a target=\"_blank\" href=\"https:\/\/tabarakdevelopments.com\/\" style=\"\" rel=\"noopener\">Tabarak Developments<\/a> subsidiary <a target=\"_blank\" href=\"https:\/\/mavencables.com\/\" style=\"\" rel=\"noopener\">Maven Cables<\/a> in a EGP 105 mn transaction, advisor Synergy Capital Managing Director Mohamed Seddiek told Enterprise, adding color to disclosures from the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/748.pdf\" style=\"\" rel=\"noopener\">buyers (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/807.pdf\" style=\"\" rel=\"noopener\">advisor (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who gets what? <\/strong>The majority stake is evenly split between MB Engineering and the rest of the consortium, according to Seddiek. Maven is now an MB Engineering subsidiary, with MB Engineering taking over Maven\u2019s management, monetary and operational policies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>We first heard that MB Engineering was gearing up to submit a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fbd40929-6504-4a20-b946-3069b3e96d54\/city-lab-is-set-to-finalize-its-acquisition-of-cairo-clinical-labs-tomorrow.-plus:%253cmark%253e-mb-engineering%253c%2Fmark%253e,-educalty,-nextera-education,-egyptalum\" style=\"\" rel=\"noopener\">mandatory tender<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fbd40929-6504-4a20-b946-3069b3e96d54\/city-lab-is-set-to-finalize-its-acquisition-of-cairo-clinical-labs-tomorrow.-plus:%253cmark%253e-mb-engineering%253c%2Fmark%253e,-educalty,-nextera-education,-egyptalum\" style=\"\" rel=\"noopener\">offer<\/a> for a controlling stake in an unnamed industrial company last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money <\/strong><strong>going?<\/strong> The consortium will invest EGP 102 mn in the company\u2019s working capital, which is poised to bring the company\u2019s total enterprise value to EGP 297 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors<\/strong><strong>:<\/strong> Synergy Capital was the transaction\u2019s sole financial advisor, while Eagle Advisors served as the transaction\u2019s independent financial advisor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Maven is now an MB Engineering subsidiary<\/p>\n","protected":false},"author":1,"featured_media":650806,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[72,7128,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-650805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-ma-watch","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"4b1ff6e3-754f-4af5-80a2-b33765f6209c","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/814.jpg","photo_position":"above","homepage_title":"","full_issue_title":"MB Engineering-led consortium acquired 51% in Maven Cables","related_issue":[650791],"teaser":"Maven is now an MB Engineering subsidiary","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.12e4fe63-2c7d-41a3-bfaa-0a93f9659815.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The transaction will see CHG control and operate Alameda\u2019s facilities, including Dar El\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/457.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557341,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/15\/aldar-adq-launch-bid-for-sodic\/","url_meta":{"origin":650805,"position":4},"title":"Aldar, ADQ launch bid for SODIC","author":"enterpriseam admin","date":"15 September 2021","format":false,"excerpt":"The UAE\u2019s Aldar Properties and sovereign wealth fund ADQ has submitted a mandatory tender offer for up to 90% of upmarket real estate developer SODIC, they said in a disclosure (pdf) to the ADX yesterday. The all-cash offer saw the consortium \u2014 which is 70% owned by Al Dar and\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/204.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544783,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/sha7en-to-operate-manage-revolta-egypt-charging-stations\/","url_meta":{"origin":650805,"position":5},"title":"Sha7en to operate + manage Revolta Egypt charging stations","author":"enterpriseam admin","date":"21 March 2022","format":false,"excerpt":"MB Engineering EV charging subsidiary Sha7en has signed an agreement to manage and operate 30 EV charging stations owned by Revolta Egypt, MB Engineering announced in an EGX disclosure (pdf) yesterday. The stations could generate up to EGP 18 mn in revenues per year, and are located across Greater Cairo,\u2026","rel":"","context":"In &quot;Green economy&quot;","block_context":{"text":"Green economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/green-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/274.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=650805"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650805\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/650791"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/650806"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=650805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=650805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=650805"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=650805"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=650805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}