{"id":667384,"date":"2025-06-24T00:00:00","date_gmt":"2025-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/24\/ascom-eyes-rayas-90-stake-in-ostool\/"},"modified":"2025-06-24T00:00:00","modified_gmt":"2025-06-24T00:00:00","slug":"ascom-eyes-rayas-90-stake-in-ostool","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/24\/ascom-eyes-rayas-90-stake-in-ostool\/","title":{"rendered":"ASCOM eyes Raya\u2019s 90% stake in Ostool"},"content":{"rendered":"

Good afternoon, everyone. <\/strong>We\u2019re racing towards the final stretch of the week and into the long weekend. The latest developments between Iran and Israel and their impact on markets (and the EGP) continue to drive the news cycle.<\/p>\n

\n

THE BIG STORY TODAY-<\/p>\n

#1- <\/strong>ASCOM eyes Raya\u2019s stake in Ostool:<\/strong> Qalaa\u2019s mining arm ASCOM will submit a purchase offer for Raya Holding's entire 90% stake \u2014 represented in 77.9 mn shares \u2014 in freight subsidiary Ostool in a EGP 641 mn transaction after its board greenlit the transaction, according to a disclosure (pdf)<\/a> to the EGX. The potential offer values Ostool\u2019s shares at EGP 8.22 each. <\/p>\n

REMEMBER- <\/strong>Raya Holding upped its stake<\/a> in Ostool to 90% in 2023, after purchasing an additional 27.7% stake from Egyptian Gulf Holding Financial Investments, EGBank\u2019s investment arm. Prior to that, Raya was looking to sell<\/a> its 62.3% stake in Ostool, but the sale didn\u2019t go through because the buyer didn\u2019t transfer the funds within the required time.<\/p>\n

\n

\n

#2- <\/strong>The EGP rebounded against the USD following the announcement of a ceasefire <\/strong>between Israel and Iran<\/strong>, with the currency gaining around EGP 0.70-0.73 during trading hours to trade below the EGP 50 mark for the first time since the escalations between the two countries began 12 days ago. The USD ended the day at EGP 50-50.10. <\/p>\n

The rebound came on the back of strong USD-dominated inflows <\/strong>\u2014 which were driven by the renewed appetite of foreign investors in our debt instruments \u2014 in tandem with a slowdown in investor outflows, a source in the banking sector told EnterpriseAM. This strong appetite is expected to continue, after interbank USD transactions reached USD 3 bn since the conflict started, the source added.<\/p>\n

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<\/a> <\/p>\n

Mark your calendar for the 2025 EnterpriseAM Egypt Forum<\/strong>, our flagship forum and part of our must-attend series of invitation-only, C-suite-level gatherings. Tap to register your interest to attend. Want to partner with us? Reach out to Moustafa Taalab at mtaalab@enterpriseadvisory.com to explore sponsorship opportunities<\/strong><\/p>\n

\n

THE BIG STORY ABROAD-<\/p>\n

Is the ceasefire already broken? <\/strong>Israeli Defense Minister Israel Katz has ordered the military to strike targets in Tehran in response to what he called a \u201cblatant violation\u201d of the truce by Iran. Israel claims that Iran had fired missiles in the hours after the ceasefire took effect. Iran, however, denied the accusations and said that no such attacks have taken place, warning that \u201cany further aggression will be met with a decisive, firm, and timely response.\u201d US President Donald Trump took to his Truth Social platform to warn Israel against dropping bombs on Iran as it would be a \u201cmajor violation\u201d of the ceasefire. (Reuters<\/a> | BBC<\/a> | New York Times<\/a> | CNBC<\/a> | Associated Press<\/a>)<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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\u2600\ufe0f <\/strong>TOMORROW\u2019S WEATHER- <\/strong>Cairo\u2019s sunny streak continues tomorrow, with the mercury set to peak at 36\u00b0C throughout the day before dropping to 22\u00b0C at night. The North Coast will be having a cooler day, with temperatures peaking at 26\u00b0C before slightly dropping to 24\u00b0C at night.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good afternoon, everyone. We\u2019re racing towards the final stretch of the week and into the long weekend. The latest developments between Iran and Israel and their impact on markets (and the EGP) continue to drive the news cycle. THE BIG STORY TODAY- #1- ASCOM eyes Raya\u2019s stake in Ostool: Qalaa\u2019s mining arm ASCOM will submit […]<\/p>\n","protected":false},"author":1,"featured_media":667385,"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":[7213],"tags":[633,1985,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-667384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-ostool","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"8c45b8f1-5609-45dc-9eb8-074666f82004","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/6\/1417.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[667382],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.5b6c01de-d34b-494a-9a08-cc9157bf3064.mp3"},"yoast_head":"\nASCOM eyes Raya\u2019s 90% stake in Ostool - 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\/2025\/06\/24\/ascom-eyes-rayas-90-stake-in-ostool\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASCOM eyes Raya\u2019s 90% stake in Ostool\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, everyone. We\u2019re racing towards the final stretch of the week and into the long weekend. The latest developments between Iran and Israel and their impact on markets (and the EGP) continue to drive the news cycle. 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8.22 each","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\/2139.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":707875,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/ascom-board-approves-fair-value-study-to-buy-90-of-rayas-ostool\/","url_meta":{"origin":667384,"position":1},"title":"Ascom board approves fair value study to buy 90% of Raya\u2019s Ostool","author":"enterpriseam admin","date":"4 June 2026","format":false,"excerpt":"This is Raya\u2019s third attempt to exit the logistics unit after a 2022 agreement with Paradigm Logistics collapsed and a 2023 reversal saw Raya consolidate ownership instead","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A 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The company will sell 53.9 mn shares to Paradigm at EGP 4.94 apiece, the filing said, adding that the two\u2026","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\/2022\/6\/95.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569159,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/16\/raya-approves-selling-31-stake-in-its-transport-arm\/","url_meta":{"origin":667384,"position":5},"title":"Raya approves selling 31% stake in its transport arm","author":"enterpriseam admin","date":"16 February 2020","format":false,"excerpt":"M&A WATCH- Raya approves sale of 31% stake in its transport arm: Raya Holding board of directors has agreed to sell a 31.16% stake in its Ostool Shipping Company to Paradigm Logistics for EGP 133 mn, according to an EGX filing (pdf). Raya will be selling 12.4 mn shares (half\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/667384","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=667384"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/667384\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/667382"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/667385"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=667384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=667384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=667384"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=667384"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=667384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}