FINANCE-

Agility Global backs hedged shares in DSV AS: Logistics provider Agility Global — a subsidiary of Kuwait’s Agility Logistics — has issued corporate backings worth EUR 75.6 mn to banks that hedged its stake in Danish global transport and logistics firm DSV AS, according to a disclosure (pdf) on ADX.

The transaction in question: Agility entered a USD 1 bn derivative transaction with Morgan Stanley, Citibank, National Association, and Goldman Sachs Bank Europe to hedge its investment in DSV back in 2023. The company shored up its stake later that year by drawing down EUR 1.3 bn from its lenders to acquire 8 mn more shares, amounting to 4% of the Danish company. Agility’s stake in DSV amounted to 8.8% as of April 2023, the company said in a statement.

AVIATION-

Egypt + UK boost aviation ties: The Egyptian Holding Company for Airports and Air Navigation (EHAAN) has inked several MoUs with leading British firms covering areas including airport infrastructure, maintenance services, and technical support to aircraft, according to a statement. No details on the signatories were disclosed.

The context: The MoUs were signed during Civil Aviation Minister Sameh El Hefny's visit to the UK, where he met with executives from global and UK-based aviation companies, such as Safran UK, Dunlop Aircraft Tyres, and Lagan Aviation & InfrastructureTAV Airports.

A new era for Egyptian airports? The International Finance Corporation’s full privatization plan for Egypt’s airports should be out in the next six months. The plan will include the technical, financial, and legal nitty gritty to get the airport privatization push off the ground. Civil Aviation Minister Sameh El Hefny said last month that Egypt plans to initially offer the management of 11 airports to the private sector.

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