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UAE-based NasInvestments Holding submitted a mandatory tender offer to acquire an additional 57.5% stake in EGX-listed fertilizersplayer EgyFert (Samad Misr), according to a statement (pdf). The move would bring Nas’ total holding in the fertilizers trading company to 90%.
More details: The transaction would be valued at EGP 522.5 mn (c. USD 10 mn), with Nas offering to purchase EgyFert’s shares at EGP 95.0 apiece, implying a company valuation of EGP 912 mn. The company’s share price hit EGP 95.65 by market close yesterday.
It’s been expected: Nas was set on offering to purchase EgyFert earlier last week and had 60 days to submit its offer as per the Financial Regulatory Authority (FRA) regulations. The acquisition would allow the fertilizer’s share to remain listed on the EGX.
REFRESHER- Nas acquired a 32.4% stake in EgyFert in October, purchasing 3.1 mn of the phosphate exporting company MidFert Misr’s shares in the fertilizers trader. The company paid EGP 60 per share, putting the transaction value at some EGP 186.6 mn.
A boon for EgyFert? EgyFert — or Samad Misr — is an Egyptian firm that specializes in the export, import, and general trading of several types of agricultural products, fertilizers, and chemicals. EgyFert — which saw a large-volume trade of 3.11 mn shares worth EGP 186.6 mn on the EGX back in October — had suspended production back in June as a result of fluctuations in the natural gas pipeline network, which forced the firm to put production on hold for an initial 24 hours.
2025 is already shaping up to be a year marked by increased investor interest in the country’s fertilizer industry, with China’s Asia Potash International Investment unveiled plans to set up an export-oriented phosphate fertilizer industrial complex in Upper Egypt that could have a final investment ticket of USD 7-10 bn. The first phase alone will cost USD 1.6 bn.
