Mergers and Acquisitions

Cairo – Mubasher: Saudi Arabia-based mobility solutions platform Morni is planning to invest $10 million to target new acquisitions in Egypt in the mobility space through Exists.me, an acquisition and mergers (M&A) advisory firm.  The new buy-side …

Abu Dhabi – Mubasher: AD Ports Group announced the merger of KEZAD Communities with Al Eskan Al Jamae LLC (EAJ) to develop Abu Dhabi’s largest integrated staff accommodation company which will have an equity value of nearly AED 7 billion. AD Ports …

Cairo – Mubasher: Shareholder Sherif Alaa Ahmed El-Zayat has sold his entire 6.01% stake in Speed Medical Company (SPMD) for a total value of EGP 28.86 million. El-Zayat sold 66.65 million shares at an average price of EGP 0.43 per share, …

Cairo - Mubasher: Alinma Investment Co has cut its stake in El-Ebour Co. for Real Estate Investment to 9.30% from 10.27% for a total value of EGP 1.59 million. Alinma has sold 169,599 shares in El-Ebour Real Estate at a share price averaging EGP …

Cairo – Mubasher: Shareholder Ali Mahmoud Abdel-latif Mahgoub increased his ownership in Lecico Egypt to 5.01% from 3.85% at a total value of EGP 8.81 million. The shareholder purchased 922,700 shares at an average share price of EGP 9.55, …

Riyadh – Mubasher: Jahez International Company for Information System Technology has fully acquired food delivery platform The Chefz after purchasing 134,620 shares for SAR 650 million. In order to carry out the transaction, Jahez will increase …

Riyadh – Mubasher: Tourism Enterprises Company (Shams) and Shuaa Capital Saudi Arabia Company agreed to end the memorandum of understanding (MoU) that was penned in February 2022 at a value of SAR 735 million. The two entities failed to reach an …

Riyadh – Mubasher: The National Company for Learning and Education (NCLE) has fully acquired Al Salam Education and Training Company’s shares for SAR 72 million. The ownership of Al Salam was transferred to NCLE after obtaining the required …

Abu Dhabi – Mubasher: Agthia Group completed the acquisition of a 60% stake in Auf Group, an Egypt-based healthy snacks and coffee manufacturer as well as retailer, for an initial price of up to EGP 2.92 billion. The acquisition boosts Agthia’s …

Riyadh – Mubasher: Tadawul Advanced Solutions Company (Wamid), a wholly-owned subsidiary of Saudi Tadawul Group Holding Company, inked a sale and purchase agreement to acquire 51% equity in Direct Financial Network Company (DirectFN). Wamid penned …

Cairo – Mubasher: Shareholder Mohamed Mamdouh Zaki Mohamed has raised his ownership in Rowad Tourism to 5.26% from 4.61% for a total value of EGP 2.40 million. The shareholder purchased 113,000 shares in Rowad at an average price of EGP 21.25 per …

Cairo - Mubasher: Regional Investment Holding has decreased its stake in Naeem Holding for Investment to 8.59% from 10.56% for a total value of $1.08 million. Regional Investment has sold 6.88 million shares in Naeem Holding at a share price …

Cairo – Mubasher: Egyptians for Housing and Development Co has received an offer from Saudi Arabia’s Sumou Holding to acquire part of the company’s stake in Egyptians for Real Estate Investment Fund (EGREF) for EGP 29.15 million. Through the …

Abu Dhabi – Mubasher: Provis has acquired SAGA International Owner Association Management Services (SAGA), bringing the company’s Owners Association portfolio to nearly 47,000 units.  The takeover positions Provis as the largest independent …

Cairo – Mubasher: Shareholder Naim Mohammed Ahmed Al Sabbagh has sold 70,000 shares in Arab Ceramic Co. - Ceramica Remas for a total value of EGP 7.66 million or an average price of EGP 1.09 per share. Al Sabbagh’s stake in Ceramica Remas dropped …

Cairo – Mubasher: Target for Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development has raised its stake in Lecico Egypt to 1.33% from 0.48% for EGP 8.68 million. Target purchased 1.02 million shares in Lecico at an …

Abu Dhabi – Mubasher: AD Ports Group has acquired Noatum, a Spain-based integrated logistics platform, at an enterprise value (EV) of AED 2.50 billion (EUR 660 million), according to a press release. Noatum is operating in 26 countries with last …

Cairo – Mubasher: The board of directors of Ghabbour Auto (GB Auto) approved unanimously to sell 7.50% of the company’s stake in MNT Investment BV at $60 million. The acquisition value is set to be increased to $71.30 million if certain conditions …

Cairo - Mubasher: Alinma Investment Co has cut its stake in El-Ebour Co. for Real Estate Investment to 13.06% from 20.92% for a total value of EGP 16.36 million. Alinma has sold 1.38 million of its shares in El-Ebour Real Estate at a share price …

Cairo – Mubasher: Car sharing platform Zoomcar has entered into a definitive agreement to merge with Innovative International Acquisition Corporation, to publically list on Nasdaq, with its name changed to Zoom Car Holdings.   The official merger …

Cairo – Mubasher: Rimco EGT Investment has increased its ownership in Edita Food Industries to 5.35% from 3.97% for a total value of EGP 101.50 million. Rimco purchased 10 million shares in Edita at an average price of EGP 10.15 per share, …

Cairo – Mubasher: FABMISR, a subsidiary of the First Abu Dhabi Bank (FAB), announced the completion of the integration of Bank Audi Egypt with the successful migration of all banking relationships and services under the FABMISR umbrella. The new …

Cairo – Mubasher: Shareholder Mohamed Tarek Mohamed Mohamed Ismail has raised his ownership in Taaleem Management Services to 5.03% from 1.73%. The shareholder purchased 4.81 million shares at a total value of EGP 16.61 million or an average share …