{"id":97291,"date":"2024-10-29T00:00:00","date_gmt":"2024-10-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/esyasoft-makes-unsolicited-takeover-proposal-for-good-energy\/"},"modified":"2024-10-29T00:00:00","modified_gmt":"2024-10-29T00:00:00","slug":"esyasoft-makes-unsolicited-takeover-proposal-for-good-energy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/10\/29\/esyasoft-makes-unsolicited-takeover-proposal-for-good-energy\/","title":{"rendered":"Esyasoft makes unsolicited takeover proposal for Good Energy"},"content":{"rendered":"

Esyasoft <\/strong>eyes UK renewables provider Good Energy: <\/strong>Dubai-based and IHC-backed technology group Esyasoft<\/a> has made an unsolicited takeover proposal to UK-based renewables supplier Good Energy<\/a>, according to a disclosure<\/a>. Good Energy is currently evaluating the offer but has not disclosed specific terms. <\/p>\n

What\u2019s next?<\/strong> Esyasoft has until 25 November to confirm its intention to proceed with the offer.<\/p>\n

Market reax<\/strong>: Good Energy's shares soared 22% on the news.<\/p>\n

OTHER M&A NEWS- <\/p>\n

#1- Bawan and Petronash sign a SPA<\/strong>: Saudi building materials manufacturer Bawan signed a sale and purchase agreement to acquire the UAE's Petronash Holding, according to a statement<\/a>. The acquisition is valued at USD 175 mn and will be financed through bank facilities and Bawan's internal cash reserves.<\/p>\n

Background:<\/strong> Bawan signed a binding MoU with Petronash last month<\/a> to acquire Petronash Holding. The agreement outlined that Bawan would initially purchase 80% of Petronash's shares for USD 80 mn, with an additional contingent payment of up to USD 60 mn based on the company's financial performance over the next three years.<\/p>\n

ADVISORS-<\/strong> Bawan sought legal, financial, and commercial advice from Khoshaim and Associates, PwC, and Rystad Energy, while Petronash was advised by Freshfields Bruckhaus Deringer and Piper Sandler.<\/p>\n

\n

\n

#2- KFH completes the sale of its full stake in Sharjah Islamic Bank:<\/strong> Kuwait Finance House (KFH) finalized selling its 18.2% stake in Sharjah Islamic Bank for AED 1.3 bn, after obtaining Securities and Commodities Authority approval, according to an ADX disclosure (pdf)<\/a>. KFH agreed to sell its 588.3 mn shares at AED 2.2 per share<\/a> in August. <\/p>\n

REFRESHER-<\/strong> Sheikh Sultan bin Mohammed bin Saqr Al Qasimi Foundation bought 226.5 mn shares (7%), Sharjah Social Security Fund got 194.1 mn shares (6%), and the rest of the shares (5.18%) were bought back by the bank as treasury shares.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Bawan Signs SPA to acquire Petronash<\/p>\n","protected":false},"author":1,"featured_media":97292,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[159,1490,7,1283,60,1491,674],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-banking","tag-bawan-company","tag-enterpriseam-uae","tag-esyasoft","tag-ma-watch","tag-petronash-global","tag-sharjah-islamic-bank","wpautop","entry"],"acf":{"mongo_id":"87f3f653-d90f-444f-959a-6a93b10bad4c","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1492.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Esyasoft makes unsolicited takeover proposal for Good Energy","related_issue":[97281],"teaser":"PLUS: Bawan Signs SPA to acquire Petronash","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.ddd8a201-c4e4-42d6-b3fd-51d5ed554880.mp3"},"yoast_head":"\nEsyasoft makes unsolicited takeover proposal for Good Energy - 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