Acquisition
The acquisition aligns with Al Ahly Capital's strategic objective of expanding its presence in the non-banking financial services sector, explained CEO and Managing Director of Al Ahly Capital, Karim Saadeh
ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent by ADNEC
Ahead of expectations, the UAE’s Global Investment Holding Company has acquired 30 percent of Egypt’s Eastern Company
The value of the CIB acquisition of 49 percent in “Mayfair CIB” amounted to about $40 million.
The data showcased in the infographic was based on a recent report released by Baker McKenzie in October.
The acquisition of these two Egyptian-based companies is the first international acquisition of Abu Dhabi Ports Group.
“Joining forces with Paynas will act as a gateway for valU to reach micro, small and medium businesses who are considered to be the backbone of the economy, with the goal to unlock various opportunities to both employers and employees,” it stated.
The non-binding offer is to acquire 100 percent of the issued capital of the company, minus the number of shares needed for the company to continue to be listed on the Egyptian Stock Exchange (EGX), with a minimum of 60 percent of the company's issued capital for implementation.
According to the statement, the share that Banque Misr purchased in Banque du Caire belongs to the share of Misr Capital Company.
Alsuwaidi elaborated , according to a statement, that ADQ has implemented many investment opportunities in pursuit of strong commercial benefits and sustainable growth since the launch of a strategic investment partnership platform with the Sovereign Fund of Egypt, valued at $20 billion.
The acquisition amounts to a total of $35 million, including the sale and purchase agreement (agreements) and other required legal documents.
The agreement entails Tyro’s leadership taking over Nafham’s management and operations to enhance the customer experience of Nafham’s 6 million users.
The purchase offer price is LE 22.33 per share, and the execution and settlement currency is equivalent to $1.42 per share.
The acquisition will be structured as a capital increase that will increase the paid-in capital of the Bank to LE 5 billion, making it compliant with the regulatory requirements of the Egyptian Banking Law.
This came in a statement issued by the company, Monday, in response to the stock market’s inquiries regarding the deal to acquire the financial group Hermes and Egypt's sovereign fund of a 76 percent stake in the Arab Investment Bank.
SODIC added in a statement to the Stock Exchange, Sunday, that the estimated purchase price is between LE 18 and LE 19 per share, through a compulsory purchase offer on the entire company's shares.
Beltone announced earlier that Orascom Investment Holding sold its entire stake in Sarwa Capital Holding for Financial Investments.
It added that the company reserves its right to respond, and to take all legal measures against anyone who publishes incorrect news, without referring to the company’s management.
The share of "Speed Hospitals" is estimated at 50 percent of Al-Safwa Hospital
During the tender offer period, Ahli United Bank – Egypt’s shareholders with a combined shareholding of 10.2 percent tendered their shares to AUB.
