Egypt’s Transport Ministry Spain’s Talgo, NERIC establish company to manufacture electric trains
New company to be announced within weeks: Sources
Fatma Salah
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Latest by Fatma Salah
Azimut Egypt aims to launch gold investment fund next February
Ahmed Abul-Saad, managing director of Azimut Egypt, revealed that the fund is awaiting final approvals from the Financial Regulatory Authority to launch it in the coming days, provided that its size is determined as soon as the subscription door closes.
GB Auto prepares to sell 45% of GB Lease to Chimera for EGP 855m
Baker Tilly sets fair value of GB Lease stock at EGP 2.6
HCFI to complete feasibility studies on Qaha & Edfina food industries complex by January
CEGMAN conducts studies on behalf of HCFI: Sources
Maridive expected to complete sale of subsidiary Valtin Marine by 1Q 2023
Last October, Maridive received an offer from Ancla Marine to acquire 100% of Valtin Marine, wholly-owned by Maridive.
HCMLT to offer 25% of Egyptian General Warehouses on Nile Stock Exchange in Q1 2023
The Egyptian General Warehouses operates in the transportation and logistics sector in the areas of warehousing, customs clearance and goods transportation.
Eagle Chemicals submits offer to acquire Pachin at EGP 29.5 per share
The offer included the acquisition of 100% of Pachin shares at an initial price of EGP 29.5 per share, and Eagle Chemicals will start the procedures for due diligence technical examination, and it will exceed the offer of National Paints at a price of EGP 0.50 per share.
B Investments to sell its stake in TotalEnergies Marketing Egypt for $27.6m
B Investments will receive additional $2.2m in the event that some of the conditions in the acquisition deal between ADNOC Distribution and TotalEnergies Marketing Afrique were met.
Finbi to complete fair value of Port Said and Damietta Containers within two months
The company has finished evaluating Stella Hotel
Pachin to decide on the acquisition offer of National Paints in early January
Elite is in the process of finalising the fair value report for the company’s shares: Sources
Emirati Chimera to acquire 45% of a subsidiary of GB Auto at a value of EGP 855m
The initial valuation of GB Lease is at EGP 2bn: Sources
Suez Canal Authority to acquire South Red Sea Shipyard
Evaluation, due diligence procedures completed: Sources
CI Asset Management expects investors to return to emerging markets in 2023
The note added that the war between Russia and Ukraine is an unfortunate development, particularly for those directly affected by the violence, and has had far-reaching effects on people’s cost of living across the globe in both rich countries and in more vulnerable emerging economies. Largely because of the abundance of natural resources in both countries directly involved in the armed conflict, annualized inflation has risen to 9.8% globally compared to 5.7% at the end of last year and a five-year average rate of 4.6%.
NI Capital aims to increase managed assets to EGP 12bn
Subscription in stock fund closed with target size of EGP 25m before end of year
How would new IMF loan help attract foreign investment back into Egypt stock market?
It is necessary to secure dollar liquidity to prevent speculations on local currency: Amr Elalfy
EFG Hermes concludes advisory on Americana $1.8bn dual listing on the ADX, Saudi Exchange
This is the first-of-its-kind concurrent dual listing between the two exchanges, with the firm acting as joint bookrunner and underwriter on the listing.
Egypt’s poultry industry stuck between a rock and hard place
The volume of the poultry industry’s investments in Egypt reached EGP 100bn
PIF in talks to acquire United Bank in Egypt for $600m: Bloomberg
The PIF aims to complete the acquisition by 1Q 2023
Vortex Energy injects second investment tranche of €46m in Ignis
Sources told Daily News Egypt that Vortex Energy will invest up to €476m through its newly launched Vortex Energy IV Fund and its co-investors into Ignis via a series of capital injections, which will be deployed over the coming few years subject to certain conditions. This will allow Ignis to fund its growth plans and transform into a fully integrated renewable independent power producer (IPP) in Spain and other geographies.
GB Auto sells 7.5% of MNT Investments to UAE’s Chimera
GB Auto said last November that the target shares would be sold at a value of $60m, or $71.3m if specific conditions were met.
Qatar Investment to acquire part of TE’s stake in Vodafone Egypt by 1Q 2023: Sources
The sources told Daily News Egypt that the World Cup and the Christmas holidays are behind the postponement of the deal to next year.
EGX expects to start trading on carbon certificates in 1H 2023
Last November, the EGX took the first steps to establish the first market for trading carbon certificates to motivate companies to reduce carbon emissions and adopt sustainable plans to reduce air pollution while encouraging green investment and diversifying investment options for investors.
Orascom Investment achieves profit of EGP 265.4m in nine months
The company’s revenues also increased to EGP 59.24m, compared to EGP 17.5m.
e-finance aims to penetrate Saudi market next year through a partnership with PIF
The sources told Daily News Egypt that the expansion of digital services inside Saudi Arabia is the purpose behind the Saudi sovereign’s acquisition of a stake in the company earlier this year.
UAE’s Agthia acquire 60% stake of snack firm Abu Auf
Deal will strengthen Agthia’s presence in snack food sector in Egypt
CIRA to deliver first phase of Saxony Egypt University next September
El-Kalla expressed his happiness with the strong performance that the company achieved throughout the year to continue its successful path, since it was listed on the Egyptian Exchange in 2018.
Sovereign Fund to promote investment opportunities in Egypt globally next January
Offering stakes in government companies to strategic investors will postpone IPO programme, according to sources
EFG Hermes advises on IPO of Taaleem worth $204m
Taaleem issued 250m new ordinary shares, representing 25% of its share capital. The shares were priced at the high end of the indicative price range at AED 3.00/share, implying a total market capitalisation of AED 3bn.
FRA seeks to develop non-banking financial activities to offer innovative investment products
Farid’s remarks came during his participation in the Cairo ICT 2022 conference on Monday.
Wamid acquires 51% of DirectFN for $35.7m
The deal will enable Wamid to enhance its growth strategy and contribute to enhancing its capabilities and ability to access regional and global markets by benefiting from the strong presence of the DirectFN in seven markets in the Middle East and parts of Asia. It would also support its efforts to advance innovation and efforts to develop financial markets in the region.