{"id":673911,"date":"2025-10-20T00:00:00","date_gmt":"2025-10-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/20\/electra-parent-company-sagas-hits-regulatory-wall-in-elsewedy-takeover-push\/"},"modified":"2025-10-20T00:00:00","modified_gmt":"2025-10-20T00:00:00","slug":"electra-parent-company-sagas-hits-regulatory-wall-in-elsewedy-takeover-push","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/20\/electra-parent-company-sagas-hits-regulatory-wall-in-elsewedy-takeover-push\/","title":{"rendered":"Electra parent company Sagas hits regulatory wall in Elsewedy takeover push"},"content":{"rendered":"

Good afternoon, folks. <\/strong>We\u2019re taking advantage of the slow news cycle today to dig into the AI bubble, what that has to do with gold prices, and what a burst may mean for the global economy.<\/p>\n

\n

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

? FRA blocks Sagas\u2019 bid to take full control of Elsewedy <\/strong>Electric: <\/strong>The Financial Regulatory Authority rejected a mixed cash-and-share acquisition offer submitted by Abu Dhabi-listed holding company Sagas Investments to acquire 100% of EGX-listed industrial heavyweight Elsewedy Electric, citing governance, valuation, and minority rights concerns, the regulator said in a statement (pdf)<\/a>. <\/p>\n

Sagas wanted to offer EGP 65 per share <\/strong>incash<\/strong> or via share swap<\/strong> through newly-issued Sagas stock to buy up all of Elsewedy Electric. The Abu Dhabi-based firm already holds an indirect 18.9% stake in Elsewedy Electric through its main subsidiary Electra Investment Holding<\/a>. <\/p>\n

The proposed structure violates market fairness and investor protection <\/strong>principles, <\/strong>according to the FRA.<\/strong> The regulator also pointed to the firm\u2019s limited track record and lack of operating assets, saying its shares cannot form a credible valuation basis for a swap offer. The FRA also raised concerns over conflict of interest risks, given Sagas\u2019 indirect stake and warned that private negotiations with major shareholders could undermine equal treatment of investors. The watchdog said the offer, if executed, could distort trading dynamics while Elsewedy remains listed on the EGX. <\/p>\n

\n

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

? It\u2019s<\/strong> a relatively calmer afternoon in the global press following the <\/strong>reinstatement <\/strong>of the ceasefire agreement in Gaza, after Israeli airstrikes killed 26 Palestinians since <\/strong>yesterday<\/a><\/strong>. <\/strong><\/p>\n

Among the stories getting plenty of ink today: <\/strong>A massive global internet outage has impacted a number of online services and websites, including Snapchat, Reddit, Facebook, Prime Video, Microsoft 365, Zoom, and Duolingo. Over 500 companies are facing issues, according to Downdetector<\/a>, an internet disruption tracker. The outage has been attributed to a \u201cglitch\u201d at Amazon Web Services. \u201cSignificant signs of recovery\u201d were being reported at the time of publication. (CNN<\/a> | BBC<\/a> | Financial Times<\/a> | New York Times<\/a> | Verge<\/a> | Sky News<\/a> | Independent<\/a> | Guardian<\/a>)<\/p>\n

OVER IN FRANCE- You only need four men and less than 10 minutes to rob the <\/strong>Louvre:<\/strong> Investigations are still underway in Paris as the four perpetrators behind yesterday\u2019s heist remain at large. Nine of France\u2019s crown jewels were successfully removed within seven minutes from the museum\u2019s Apollo gallery, with eight stolen and the ninth \u2014 Empress Eugenie\u2019s crown \u2014 dropped as the thieves made their getaway. A special police unit has been assigned the case, according to French Interior Minister Laurent Nunez. <\/p>\n

The heist has put pressure over an already-fragmented French government.<\/strong> \u201cHow far will the disintegration of the state go?\u201d National Rally President Jordan Bardella asked. (Reuters<\/a> | New York Times<\/a> | Guardian<\/a>)<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

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>We\u2019re in for another warm day in the capital, with temperatures set to peak at a sunny 32\u00b0C before cooling down to 19\u00b0C, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good afternoon, folks. We\u2019re taking advantage of the slow news cycle today to dig into the AI bubble, what that has to do with gold prices, and what a burst may mean for the global economy. THE BIG STORY TODAY- ? FRA blocks Sagas\u2019 bid to take full control of Elsewedy Electric: The Financial Regulatory […]<\/p>\n","protected":false},"author":1,"featured_media":673912,"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":[152,633,7128,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-673911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-elsewedy-electric","tag-enterprisepm","tag-ma-watch","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"bb390fb8-e1a4-4bbc-8483-05fb44e545f4","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/7\/663.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Electra parent company Sagas hits regulatory wall in Elsewedy takeover push","related_issue":[673909],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.94c42c49-327c-42a0-b668-a1b5feda1313.mp3"},"yoast_head":"\nElectra parent company Sagas hits regulatory wall in Elsewedy takeover push - 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\/10\/20\/electra-parent-company-sagas-hits-regulatory-wall-in-elsewedy-takeover-push\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Electra parent company Sagas hits regulatory wall in Elsewedy takeover push\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, folks. 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With the weekend finally here, we\u2019re more than ready to put our feet up and get some well-deserved r\u2019n\u2019r. THE BIG STORY TODAY FRA gives UAE\u2019s Electra the green light for Elsewedy Electric acquisition: The Financial Regulatory Authority (FRA) approved Abu Dhabi-based\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\/1\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547636,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/29\/elsewedy-electric-gets-usd-150-mn-from-ifc-to-fund-renewables-investments-abroad\/","url_meta":{"origin":673911,"position":1},"title":"Elsewedy Electric gets USD 150 mn from IFC to fund renewables investments abroad","author":"enterpriseam admin","date":"29 June 2022","format":false,"excerpt":"Elsewedy Electric will use a USD 150 mn loan from the International Finance Corporation (IFC) to acquire renewable energy plants outside of Egypt, company VP and CFO Sherif Elzeiny told CNBC Arabia in an interview (watch, runtime: 4:00). \u201cThe funds will also be used to support projects related to sustainability\u2026\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":620314,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/","url_meta":{"origin":673911,"position":2},"title":"THIS EVENING: UAE-based Electra Investment Holding bids for a 24.5% stake in Elsewedy Electric","author":"enterpriseam admin","date":"19 May 2024","format":false,"excerpt":"Good afternoon, folks. We are kicking off this week by sending plenty of gratitude to WillisCarrier and his invention that is making this heatwave bearable. THE BIG STORY TODAY Electra Investment Holding has put in a bid for a 24.5% stake in Elsewedy Electric, according to a statement (pdf) from\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\/2022\/1\/100.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571481,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/elsewedy-electric-makes-norges-banks-investment-blacklist-after-esg-screen\/","url_meta":{"origin":673911,"position":3},"title":"Elsewedy Electric makes Norges Bank\u2019s investment blacklist after ESG screen","author":"enterpriseam admin","date":"13 May 2020","format":false,"excerpt":"The day ESG came home to roost? Our friends at Elsewedy Electric, the high-profile EGX-listed industrial, infrastructure and energy player, are the first (we believe) Egyptian company to make the blacklist of the world\u2019s largest sovereign wealth fund. The USD 1 tn Norges Bank said yesterday that Elsewedy was among\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":[]},{"id":557084,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/06\/elsewedy-electric-subsidiary-signs-epc-contract-in-ghana\/","url_meta":{"origin":673911,"position":4},"title":"Elsewedy Electric subsidiary signs EPC contract in Ghana","author":"enterpriseam admin","date":"6 September 2021","format":false,"excerpt":"Elsewedy returns to Ghana: Elsewedy Electric for Transmission and Distribution of Energy signed a USD 16.7 mn EPC contract to build a substation for Ghana\u2019s state-owned electricity company, it said in a boursefiling(pdf) last week. The company will be responsible for the design, supply and installation of the entire project,\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/75.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580382,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/this-evening-first-filling-begins-for-elsewedy-electric-arab-contractors-tanzania-dam-suez-canals-osama-rabie-addresses-questions-on-new-suez-canal-fund\/","url_meta":{"origin":673911,"position":5},"title":"THIS EVENING: First filling begins for Elsewedy Electric-Arab Contractors Tanzania dam + Suez Canal\u2019s Osama Rabie addresses questions on new Suez Canal fund","author":"enterpriseam admin","date":"22 December 2022","format":false,"excerpt":"Happy THURSDAY, wonderful people. It\u2019s been a mad rush of a week, but judging by the volume of out-of-office replies landing in our inboxes today, a number of you are taking some much-needed time off with which to end the year.*** We\u2019re following your lead and will be taking an\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\/2022\/12\/773.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\/673911","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=673911"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/673911\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/673909"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/673912"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=673911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=673911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=673911"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=673911"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=673911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}