{"id":674730,"date":"2025-11-03T00:00:00","date_gmt":"2025-11-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/03\/egypt-kuwaiti-holding-wraps-egp-3-2-bn-sale-of-delta-ins-to-moroccos-wafa\/"},"modified":"2025-11-03T00:00:00","modified_gmt":"2025-11-03T00:00:00","slug":"egypt-kuwaiti-holding-wraps-egp-3-2-bn-sale-of-delta-ins-to-moroccos-wafa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/03\/egypt-kuwaiti-holding-wraps-egp-3-2-bn-sale-of-delta-ins-to-moroccos-wafa\/","title":{"rendered":"Egypt Kuwaiti Holding wraps EGP 3.2 bn sale of Delta Ins. to Morocco\u2019s Wafa"},"content":{"rendered":"

Egypt Kuwait Holding (EKH) sold its entire 63.4% stake in Delta Ins. to <\/strong>Casablanca-listed Wafa Assurance<\/strong> in a EGP 3.2 bn (c. USD 67 mn) transaction, it said in a bourse disclosure (pdf)<\/a>. EKH booked an estimated USD 46 mn gain from the transaction in its standalone financials, and USD 3 mn in its consolidated results. Wafa said it plans to delist Delta from the EGX and merge Delta Life with its own life ins. arm within months of closing. <\/p>\n

(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

REFRESHER- <\/strong>EKH\u2019s board approved the sale last month<\/a>, following Wafa Assurance\u2019s mandatory tender offer for up to 125 mn Delta shares (100% of the company). The MTO valued Delta at up to EGP 5 bn and required a minimum acceptance of 51%.<\/p>\n

Part of a broader portfolio rebalancing:<\/strong> CEO Jon Rokk told us in September<\/a> that the company was doing a housekeeping exercise to exit non-core holdings and sharpen its sectoral and geographic diversification. He said the group\u2019s next growth chapter will focus on international expansion, including new energy and industrial investments in Saudi Arabia and the UK, while maintaining strong exposure to Egypt.<\/p>\n

ADVISORS- <\/strong>Our friends at EFG Hermes brokered the transaction and acted as EKH's financial advisor, while Baker McKenzie Cairo acted as counsel for the company. Sharkawy & Sarhan and A&O Sherman Morocco provided counsel for Wafa, while Attijari Conseil served as a financial advisor and Forvis Mazars provided tax and financial advisory services out of both Morocco and Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

EKH booked an estimated USD 46 mn gain from the transaction in its standalone financials<\/p>\n","protected":false},"author":1,"featured_media":674731,"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":[1668,72,181,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-674730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-egypt-kuwait-holding","tag-enterpriseam","tag-insurance","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"4f9209bd-32fe-4b37-8e1e-69ad491e3a73","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1577.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt Kuwaiti Holding wraps EGP 3.2 bn sale of Delta Ins. to Morocco\u2019s Wafa","related_issue":[674717],"teaser":"EKH booked an estimated USD 46 mn gain from the transaction in its standalone financials","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.14a11eda-92f1-47f3-884a-8297b19782bd.mp3"},"yoast_head":"\nEgypt Kuwaiti Holding wraps EGP 3.2 bn sale of Delta Ins. to Morocco\u2019s Wafa - 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\/11\/03\/egypt-kuwaiti-holding-wraps-egp-3-2-bn-sale-of-delta-ins-to-moroccos-wafa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt Kuwaiti Holding wraps EGP 3.2 bn sale of Delta Ins. to Morocco\u2019s Wafa\" \/>\n<meta property=\"og:description\" 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valuation of Delta\u2019s price-per-share at EGP 50 a pop","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\/12\/884.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666692,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/12\/wafa-assurance-submits-mto-to-acquire-delta-ins\/","url_meta":{"origin":674730,"position":1},"title":"Wafa Assurance submits MTO to acquire Delta Ins.","author":"enterpriseam admin","date":"12 June 2025","format":false,"excerpt":"Wafa Assurance plans to delist Delta Ins. from the EGX following the acquisition","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A 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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":[]},{"id":632115,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/04\/ekh-gets-regulators-nod-for-mto-to-acquire-delta-insurance-in-egp-338-mn-transaction\/","url_meta":{"origin":674730,"position":3},"title":"EKH gets regulator\u2019s nod for MTO to acquire Delta Insurance in EGP 338 mn transaction","author":"enterpriseam admin","date":"4 February 2018","format":false,"excerpt":"M&A WATCH- Egypt Kuwait Holding (EKH) received the go-ahead from the Financial Regulatory Authority on Thursday to make a mandatory tender offer to acquire 99% of Delta Insurance, according to Al Mal. EKH is looking to acquire the remaining 16.9 mn shares (67.97%) valued at EGP 20 a share, which\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":667034,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/18\/egypt-kuwait-holding-to-sell-entire-63-4-delta-ins-stake-plus-sodic-madar-developments-punalu-erada-microfinance-disruptech-ventures\/","url_meta":{"origin":674730,"position":4},"title":"Egypt Kuwait Holding to sell entire 63.4% Delta Ins. stake. PLUS: SODIC, Madar Developments, Punalu, Erada Microfinance, DisrupTech Ventures","author":"enterpriseam admin","date":"18 June 2025","format":false,"excerpt":"The Morocco-based ins. player submitted an MTO to acquire up to 100% of Delta Ins. at EGP 40 per share last week,","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\/2024\/11\/1765.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634088,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/04\/ekh-submits-delta-insurance-mto-for-approval\/","url_meta":{"origin":674730,"position":5},"title":"EKH submits Delta Insurance MTO for approval","author":"enterpriseam admin","date":"4 January 2018","format":false,"excerpt":"M&A WATCH- Egypt Kuwait Holding (EKH) has placed a mandatory tender offer for 66.97% of Delta Insurance\u2019s shares at EGP 20 per share, the Financial Regulatory Authority told the EGX. The Authority says it is currently assessing the offer. EKH had announced it received approvals to increase its stake in\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\/674730","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=674730"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/674730\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/674717"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/674731"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=674730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=674730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=674730"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=674730"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=674730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}