M&A WATCH-

#1- Leading Egyptian private sector education provider CIRA Education will submit a mandatory tender offer (MTO) to up its stake in EGX-listed subsidiary Cairo for Educational Services (CAED) to up to 90% from the current 69.4%, according to a disclosure to the Egyptian Stock Exchange (pdf). CIRA is looking to snap an additional 20.6% of its subsidiary — represented in 2.5 mn shares — at an initial price tag of EGP 30 per share, putting the total transaction value at some EGP 74.2 mn (SAR 5.5 mn) by our math.

We knew this was coming: CIRA Education is required to submit an MTO for a bigger stake in CAED after PIF-owned Social Impact Capital increased its stake to from 51.2% to 88.7% in the company. CIRA also plans to keep CAED listed on the EGX if the MTO goes through.

#2- Tadawul-listed Naseej International Trading inked a sale and purchase agreement (SPA) to fully takeover Etmam Arabian Real Estate Development, it said in a filing to Tadawul. The transaction is valued at SAR 552 mn and will be executed through a share swap with 6.3 mn new shares issued to Etman's owners. Upon completion, Naseej’s existing shareholders’ ownership will be diluted to 63.4%, down from 100%, while Etmam’s owners will hold 36.6% in Naseej. The move is still pending regulatory approval.

STARTUP WATCH-

Wa’ed Ventures invests in UK-based AI cloud startup: Aramco’s venture arm Wa’ed Ventures invested an undisclosed amount in Ori, a UK-based outfit that is backed by Spain’s Telefonica, Bloomberg reports citing a statement. The agreement sees Ori setting up a regional subsidiary in Riyadh to develop local talent and develop technologies in the local AI sector.

About Ori: Founded in 2019, Ori is an AI-powered conversational marketing solution designed to provide affordable customer care for health and wellness businesses. It also offers cloud infrastructure tailored for AI, and is one of the first UK companies to deploy Nvidia’s H200 chips. It recently closed a USD 176 mn funding round which saw participation from Spain’s Telefonica and NextEra Energy, and is gearing up for a “larger funding round” this year, Bloomberg reported.

DEBT WATCH-

Perfect Presentation (2P) renewed and increased a SAR 135 mn shariah-complaint loan with Gulf International Bank, it said in a disclosure to Tadawul. Valid until February 2026, the funding will be utilized to issue letters of guarantees and credit, as well as for invoice financing relating to newly awarded projects. The facility is backed by promissory notes.

REAL ESTATE-

Ladun Investment sold a 50k sqm plot in Riyadh’s Al-Rimal District for a SAR 117.5 mn sum to two individual investors — Fahd Al Shibayani and Nasir Al Shibayani — with each acquiring 50% of the property, it said in a disclosure to Tadawul. Proceeds from the sale are earmarked for repaying financing from Bank Albilad which was applied towards acquiring the land, with excess funds going towards supporting Ladun’s operations.

TELECOMS-

Nokia and local EPC contractor Aces will deploy a sharable indoor solution to enhance network coverage in Makkah under a newly agreed long-term partnership, according to a press release. The Nokia product allows three communication service providers (CSPs) to operate on a common network infrastructure, with the solution improving connectivity while cutting costs, power, and space consumption. Designed for high-density areas, the scalable deployment also lays the groundwork for future 5G expansion.

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