STARTUP WATCH-

Saudi-based e-commerce startup Techrar closed a SAR 6 mn investment round led by Aramco’s VC arm Wa’ed Ventures, it said in a post on LinkedIn. The new funding will be used for product development, team growth, and market and customer expansion to deliver customized customer experiences.

About Techrar: Founded in 2022 by Ahmed Salama (LinkedIn), Safwan Saigh (LinkedIn), Fozan Alkhalawi (LinkedIn), Rania Shaker (LinkedIn), and Ahmed Saeed (LinkedIn), techrar offers an integrated platform for managing subscriptions, memberships, and recurring billing.

ROADS-

#1- Dubai gets a new flyover: Dubai’s Roads and Transport Authority (RTA) and Etihad Rail inaugurated a 1.8km flyover to ease traffic flow to and from Dubai Investment Park, according to a statement released on Saturday. The signal-controlled flyover has a three-lane capacity and is designed to streamline traffic on Dubai’s Al Yalayis Street. The flyover is set to facilitate the smooth movement of trains traveling within the median strip of Al Yalayis Street by separating trains and vehicles.

STORAGE + WAREHOUSES-

Dubai-based Al Khayyat Investments has launched its 1 mn sq ft fulfillment center in Dubai Industrial City, according to statements released on Thursday here and here. The warehouse is set to boost the firm’s current storage and distribution capacity almost four-fold to over 1.5 mn units per day. The new facility will help the firm extend its services to

over 30k commercial businesses in the region and bolster its home delivery operations.

M&A WATCH-

Shareholders of EGX-listed phosphate exporter Egyfert who wish to sell their stakes to UAE-basedNAS Investment Holding can do so between 27 April and 25 May, according to two separate disclosures issued last week here (pdf) and here (pdf). The transaction — which would raise the company’s holding from 32.4% to up to 90% — is valued at EGP 524.4 mn (AED 37.5 mn), with shares priced at EGP 95 apiece. Nas doesn’t have plans to delist Egyfert from the EGX.

What’s next: Egypt’s Financial Regulatory Authority granted Egyfert 15 days to disclose its opinion on the feasibility of the offer. It also mandated the company to appoint an independent financial advisor not related to the offer and to disclose to shareholders the findings of the advisor's report at least five days before the end of the mandatory tender offer period, according to a separate disclosure (pdf).

ADVISORS- Nas enlisted Al Ahly Pharos as the broker of the transaction, while MHR & Co and White & Case are acting as legal advisors.

SHIPPING + MARITIME-

Libya gets a new vehicle shipping service: Shipping giant Mediterranean Sea Company (MSC) and AD Ports subsidiary Noatum Maritime launched a new shipping service linking Jebel Ali Port to Libya’s Jiliana Port in Benghazi, Libya Alhadath TV reported last week (watch, runtime: 02:40). A dual-fuel cargo vessel — dubbed UGR Al Samha — will be operating the service, with a total area of 59k sqm and carrying capacity exceeding 7k car equivalent units.

TRADE-

Egypt to boost its exports of yachts: Egypt’s South Red Sea Shipyard Company is building an 18k sqft factory to manufacture yachts for export to the Gulf, Europe, and Africa, VP Hassan Kamal told Asharq Business last week. The facility is slated to begin production this year, with an output of 20 boats targeted in the first year — all of which will be earmarked for export. The factory will increase its annual production by 50% after its first year in operation. The project’s investment figure was not disclosed.

About South Red Sea Shipyard: The firm’s shipyard is located south of Safaga and includes a mechanical slipway with a capacity load of 450 tons for haul-out and launch operations as well as a 5k sqm covered painting shed, according to its website.

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