{"id":658499,"date":"2025-01-12T00:00:00","date_gmt":"2025-01-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/uaes-nas-investment-holding-wants-a-bigger-piece-of-egyfert\/"},"modified":"2025-01-12T00:00:00","modified_gmt":"2025-01-12T00:00:00","slug":"uaes-nas-investment-holding-wants-a-bigger-piece-of-egyfert","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/uaes-nas-investment-holding-wants-a-bigger-piece-of-egyfert\/","title":{"rendered":"UAE\u2019s Nas Investment Holding wants a bigger piece of EgyFert"},"content":{"rendered":"

Good afternoon, friends, and welcome to a new work week. <\/strong>The weather is off to a cool start this Sunday, as is the news cycle.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

UAE\u2019s Nas Investment Holding wants a bigger piece of EgyFert:<\/strong> UAE-based Nas Investment Holding intends to submit a mandatory tender offer for an additional 57.5% stake \u2014 represented in 5.5 mn shares \u2014 in EGX-listed fertilizers player EgyFert, the Financial Regulatory Authority (FRA) said in a statement (pdf)<\/a>. <\/p>\n

The potential offer: <\/strong>Nas will offer to purchase EgyFert\u2019s shares at EGP 95 apiece, putting the transaction value at some EGP 522.5 mn and valuing the company at some EGP 912 mn. The offer price is 5% below EgyFert\u2019s share price of EGP 99.56. The company will have 60 days to submit its offer, as per FRA regulations. If accepted, the acquisition will give Nas a controlling 90% stake in the fertilizer company, allowing its shares to remain listed on the EGX.<\/p>\n

REFRESHER-<\/strong> Nas acquired<\/a> a 32.4% stake in EgyFert back in October, purchasing 3.1 mn of phosphate exporting company MidFert Misr\u2019s shares in the fertilizers producer. The company paid EGP 60 per share, putting the transaction value at some EGP 186.6 mn. <\/p>\n

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THE BIG STORY ABROAD<\/p>\n

The int\u2019l news cycle remains relatively light this morning, <\/strong>as southern California\u2019s wildfires continue to dominate global headlines.<\/p>\n

Concerns over the possible targeting of anti-Trump political figures have returned to the <\/strong>global front pages today with the <\/strong>resignation<\/a><\/strong> of US special council Jack Smith,<\/strong> the prosecutor who led the federal cases against Donald Trump for his attempt to overturn the 2020 US election results and his mishandling of official documents. Trump has previously threatened retribution against Smith, saying that he would fire him the day he took office and repeatedly calling him \u201cderanged.\u201d<\/p>\n

AND IN BUSINESS NEWS- Advertisers are speaking out against Meta\u2019s move to <\/strong>end<\/a><\/strong>fact-checking<\/a><\/strong>, citing concerns that toxic content could expose their brands to reputational risks, the Financial Times<\/a> reports. While Meta has assured advertisers \u2014 who drive most of Meta\u2019s USD 135 bn in annual revenue \u2014 that brand safety tools remain intact, some industry leaders say that companies may reduce their spending if harmful content increases. <\/p>\n

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