Egytrans completed its acquisition of 99.9% of the National Transport and Overseas Services Co. (Nosco)’s EGX-listed shates, marking the first reverse merger on the Egyptian Stock Exchange through a share swap, the local logistics leader said in a statement (pdf) on Thursday. Egytrans’ takeover of the trucking firm had been in the works since as early as March2023 but was pushed back at least twice due to delayed regulatory procedures.

The details: The acquisition was conducted through a swap of one Egytrans share for 0.0447 shares of Nosco, which resulted in an increase of Egytrans's total capital to approximately EGP 224.9 mn. The final ownership structure of the merged entity is 70.2% for Egytrans shareholders and 29.8% for Nosco shareholders, according to the fair value determined by independent financial advisor Archer Financial Consulting.

Egytrans’ Abir Leheta will be CEO of shared services for the merged entity, while Nosco’s Mohamed Nadim will be CEO for commercial affairs and operations. Maged Shawky will continue as chairman.

What they said: “Nosco brings long-standing expertise in project logistics and land transport, which complements Egytrans’ diversified platform — enabling new solutions and services within Egypt and beyond and supporting growth rates above market averages,” said Leheta.

ADVISORS- Catalyst Partners acted as the investment bank and financial advisor for the transaction. Zaki Hashem and Partners provided counsel for the transaction, while Al Tamimi and Co. provided counsel on Egyptian Competition Authority requirements. Beltone Securities Brokerage executed the transaction.

IN OTHER M&A WATCH UPDATES-

GWC closes Ancla Logistik stake: Qatar's Gulf Warehousing Company (GWC) has finalized its acquisition of a 16.15% stake in German supply chain operator Ancla Logistik, according to a disclosure to the Qatar Stock Exchange. This follows up on GWC’s agreement last month to snap up the stake in the firm for a EUR 8.2 mn.

What we know: GWC is using its own funds to acquire the stake. The investment isn't expected to significantly impact the company’s financial results this year, it said last month.

About Ancla: Established in 2006 and based in Wetzlar, Ancla Logistik provides contract logistics, freight forwarding, customs, and e-commerce fulfillment. Following a 2022 merger with Austria’s Logsta, the company operates under the Quivo network across Germany, Austria, the UK, France, and the US.

GWC’s ambitions beyond Qatar: Earlier this year, GWC launched a wholly-owned subsidiary in Saudi Arabia — called GWC ENR — based in Dammam.

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