{"id":656782,"date":"2024-12-10T00:00:00","date_gmt":"2024-12-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/10\/axa-wafa-assurance-express-interest-in-buying-up-to-100-of-delta-ins\/"},"modified":"2024-12-10T00:00:00","modified_gmt":"2024-12-10T00:00:00","slug":"axa-wafa-assurance-express-interest-in-buying-up-to-100-of-delta-ins","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/10\/axa-wafa-assurance-express-interest-in-buying-up-to-100-of-delta-ins\/","title":{"rendered":"Axa, Wafa Assurance express interest in buying up to 100% of Delta Ins."},"content":{"rendered":"

Delta Ins. has two new suitors<\/strong>: <\/strong>Axa Egypt and Morocco\u2019s Wafa Assurance have each registered their interest through non-binding offers to buy up to 100% of Egypt Kuwait Holding (EKH) subsidiary Delta Ins.\u2019 shares through mandatory purchase offers, according to an EGX filings.<\/p>\n

The offers:<\/strong> Both AXA and Wafa Assurance value Delta\u2019s shares at an initial price of EGP 50 a pop, bringing the total value of a purchase of 100% of the company\u2019s shares to EGP 5 bn. <\/p>\n

Both companies have requested approval from the Financial Regulatory Authority<\/strong> <\/span>to conduct due diligence<\/strong> on Delta, with the companies\u2019 initial valuation subject to adjustment following the fair value studies.<\/span><\/p>\n

Moving forward: <\/strong>Delta\u2019s board of directors is in the process of studying both offers, and has voted to appoint a legal advisor to follow up on the legal and regulatory requirements, the parent company said in a disclosure (pdf)<\/a>.<\/p>\n

Is this the beginning of an M&A wave in the ins. sector?<\/strong> Industry sources have been anticipating a wave of M&A activity in the sector since President Abdel Fattah El Sisi's <\/a>ratification<\/a> of the Unified Ins. Law in July, which was expected to produce capital inflows of approximately EGP 2.9 bn as firms sought to meet new capital requirements, insurance broker Mohamed El Ghatrefy told EnterpriseAM. The acquisition of Delta Ins. could mark the beginning of such a wave, El Ghatrefy said, especially in light of the FRA\u2019s new rules for M&As in the NBFI<\/a> sector, which aim to enhance competitiveness and streamline the process of obtaining regulatory approvals.<\/p>\n

There are signs that EKH might want to get in on the action: <\/strong>Other firms want a piece of EKH\u2019s ins. portfolio, with the firm receiving an offer to purchase its 25% stake in Mohandes Ins. earlier this year. \u201cIt appears that EKH is moving toward restructuring its investments in the sector,\u201d a source familiar with the matter told EnterpriseAM.<\/p>\n

Advisors:<\/strong> EFG Hermes is acting as the sell side\u2019s advisor. <\/p>\n","protected":false},"excerpt":{"rendered":"

The companies both provided an initial valuation of Delta\u2019s price-per-share at EGP 50 a pop<\/p>\n","protected":false},"author":1,"featured_media":656783,"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":[429,1668,72,181,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-656782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-axa-egypt","tag-egypt-kuwait-holding","tag-enterpriseam","tag-insurance","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"8cbf1ee3-522f-4804-a4bf-29b5cb63d6bd","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/884.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Axa, Wafa Assurance express interest in buying up to 100% of Delta Insurance","related_issue":[656777],"teaser":"The companies both provided an initial valuation of Delta\u2019s price-per-share at EGP 50 a pop","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.7f5b7855-31f5-4b24-a963-3e869e050e6f.mp3"},"yoast_head":"\nAxa, Wafa Assurance express interest in buying up to 100% of Delta Ins. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/10\/axa-wafa-assurance-express-interest-in-buying-up-to-100-of-delta-ins\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Axa, Wafa Assurance express interest in buying up to 100% of Delta Ins.\" \/>\n<meta property=\"og:description\" content=\"The companies 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The presses haven\u2019t slowed down today, with news of a possible Delta Ins. buyout, continued political jockeying in Syria, and a major milestone for the advertising industry all on today\u2019s docket.THE BIG STORY TODAY Delta Ins. has two new suitors: AXA\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/836.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":674730,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/03\/egypt-kuwaiti-holding-wraps-egp-3-2-bn-sale-of-delta-ins-to-moroccos-wafa\/","url_meta":{"origin":656782,"position":4},"title":"Egypt Kuwaiti Holding wraps EGP 3.2 bn sale of Delta Ins. to Morocco\u2019s Wafa","author":"enterpriseam admin","date":"3 November 2025","format":false,"excerpt":"EKH booked an estimated USD 46 mn gain from the transaction in its standalone financials","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1577.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":672682,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/29\/fra-greenlights-wafa-raya-tender-offers-as-bids-go-live-on-egx\/","url_meta":{"origin":656782,"position":5},"title":"FRA greenlights Wafa, Raya tender offers as bids go live on EGX","author":"enterpriseam admin","date":"29 September 2025","format":false,"excerpt":"Delta shareholders have until 27 October and Raya CX shareholders until 26 October to decide","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.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\/656782","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=656782"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/656782\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/656777"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/656783"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=656782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=656782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=656782"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=656782"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=656782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}