{"id":707875,"date":"2026-06-04T00:00:00","date_gmt":"2026-06-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=707875"},"modified":"2026-06-04T02:56:53","modified_gmt":"2026-06-04T02:56:53","slug":"ascom-board-approves-fair-value-study-to-buy-90-of-rayas-ostool","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/ascom-board-approves-fair-value-study-to-buy-90-of-rayas-ostool\/","title":{"rendered":"Ascom board approves fair value study to buy 90% of Raya\u2019s Ostool"},"content":{"rendered":"

Ascom\u2019s board of directors approved a fair value <\/strong>study to acquire a 90% stake in Raya Holding\u2019s Ostool <\/strong>Transport and Logistics<\/strong>, bringing Qalaa Holdings\u2019 mining arm one step closer to executing the EGP 641 mn buyout<\/a>, according to two EGX filings (here, pdf<\/a> and here, pdf<\/a>). The board greenlit the purchase of nearly 77.9 mn shares, offering EGP 8.22 apiece \u2014 a 30.5% premium over the EGP 6.3 fair value (pdf)<\/a> set by independent financial advisor Fact.<\/p>\n

REFRESHER- <\/strong>This is Raya\u2019s latest attempt to exit the land logistics sector after a previous agreement to sell the unit to Paradigm Logistics, which collapsed in 2022<\/a> after the buyer failed to transfer funds. Raya then reversed course in late 2023, consolidating its ownership in Ostool to 90% before Ascom submitted its initial buyout offer in June 2025<\/a>.<\/p>\n

A full-circle moment:<\/strong> Founded in 2010 as a joint venture between Raya and Qalaa, Ostool is essentially returning home. The firm \u2014 which provides fleet and transport services to industrial, energy, and construction players \u2014 will slide back under Qalaa\u2019s umbrella following a six-year divestment orbit.<\/p>\n

Next steps? <\/strong>Both Ascom and Raya\u2019s shareholders will likely still need to sign off before the parties can move forward with the actual ownership transfer and any remaining regulatory approvals.<\/p>\n

MARKET <\/strong>REAX-<\/strong> Raya\u2019s stock closed down 0.13% yesterday at EGP 7.47, while Ascom gained 14.1% to EGP 57.1. <\/p>\n

ADVISORS- <\/strong>Fact served as the independent financial advisor for the fair value study, which was audited and signed off by Zarrouk & El Salawy.<\/p>\n","protected":false},"excerpt":{"rendered":"

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<\/p>\n","protected":false},"author":1,"featured_media":707876,"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":[72,9068,7128,1985,12682,614],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-707875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-ma","tag-ma-watch","tag-ostool","tag-raya","tag-raya-holding","wpautop","entry"],"acf":{"mongo_id":"b9bd21dc-6524-44fe-bb4e-eb7d3c26d6a2","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/6\/303.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The exit clears","related_issue":[707870],"teaser":"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"},"yoast_head":"\nAscom board approves fair value study to buy 90% of Raya\u2019s 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\/2026\/06\/04\/ascom-board-approves-fair-value-study-to-buy-90-of-rayas-ostool\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ascom board approves fair value study to buy 90% of Raya\u2019s Ostool\" \/>\n<meta property=\"og:description\" content=\"This is Raya\u2019s third attempt to exit the logistics unit after a 2022 agreement with Paradigm Logistics collapsed and 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subsidiary","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\/2023\/12\/908.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":667417,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/25\/ascom-is-looking-to-take-over-raya-holdings-90-stake-in-ostool\/","url_meta":{"origin":707875,"position":1},"title":"Ascom is looking to take over Raya Holding\u2019s 90% stake in Ostool","author":"enterpriseam admin","date":"25 June 2025","format":false,"excerpt":"The potential offer values Ostool\u2019s shares at EGP 8.22 each","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\/2026\/5\/1002.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":667384,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/24\/ascom-eyes-rayas-90-stake-in-ostool\/","url_meta":{"origin":707875,"position":3},"title":"ASCOM eyes Raya\u2019s 90% stake in Ostool","author":"enterpriseam admin","date":"24 June 2025","format":false,"excerpt":"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\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\/2025\/6\/1417.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546892,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/raya-finalizes-ostool-sale\/","url_meta":{"origin":707875,"position":4},"title":"Raya finalizes Ostool sale","author":"enterpriseam admin","date":"1 June 2022","format":false,"excerpt":"Raya Holding is close to selling its 62.3% stake in freight subsidiary Ostool to Paradigm Logistics for EGP 266.6 mn, it said in a disclosure to the EGX (pdf) yesterday. 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":707875,"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\/707875","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=707875"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/707875\/revisions"}],"predecessor-version":[{"id":707919,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/707875\/revisions\/707919"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/707870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/707876"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=707875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=707875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=707875"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=707875"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=707875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}