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Mergers and Acquisitions

Empain Tourism Investments Company's FV has been estimated at EGP 76 a share
12:26 PM Remco approves FV study for Empain's stock
Cairo - Mubasher: The board of directors of Remco for Tourism Villages Construction approved the fair value (FV) study prepared by Alpha Capital Financial Advisory for Financial Securities for the stock of Empain Tourism Investments Company. Remco …
The Bahraini bank offered to acquire Blom Bank Egypt for EGP 22.33 per share
26 July 11:43 AM EGX reveals details of Bank ABC's MTO for Blom Bank Egypt
Cairo - Mubasher: The Egyptian Exchange (EGX) revealed the details of the mandatory tender offer (MTO) submitted by Bahrain's Arab Banking Corporation (Bank ABC) to purchase up to 300 million shares or 100% of Blom Bank Egypt. The Bahraini bank …
This decision is subject to the approvals of CMA and Tadawul
25 July 03:46 PM Alkhabeer REIT's board approves asset increase through acquisitions
Riyadh - Mubasher: The board of Alkhabeer REIT Fund has approved an increase in the total value of the Fund's assets through the acquisition of three real estate assets with a total value of SAR 1.53 billion. The real estate assets comprise a …
Aldar Properties submitted a preliminary non-binding offer in mid-March
25 July 01:32 PM UAE’s Aldar Properties gets another deadline extension to bid for SODIC
Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a request by the UAE’s Aldar Properties to extend the deadline for submitting a mandatory tender offer (MTO) to fully acquire Six of October Development and Investment …
Vincent Hotel will add to the portfolio of Crystalbrook Collection
19 July 12:41 PM UAE-based Ghassan Aboud acquires Vincent Hotel in Australia
UAE - Mubasher: Ghassan Aboud Group, the UAE-based business conglomerate, has acquired Vincent Hotel, formerly known as The Fantauzzo, in Brisbane in Australia. The acquisition, one of the first major transactions in the hospitality …
The offer includes the purchase of up to 300 million shares for EGP 22.33 apiece
18 July 03:47 PM FRA approves Bank ABC's MTO for Blom Bank Egypt
Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the publication of a mandatory tender offer (MTO) submitted by Bahrain's Arab Banking Corporation (Bank ABC) to acquire Blom Bank Egypt.  The offer includes the purchase …
The company requested to raise the offered price to EGP 6.25 per share
18 July 03:36 PM Tycoon Holding requests to raise bid for Alexandria Financial Investment
Cairo - Mubasher: Tycoon Holding has submitted a request to the Egyptian Financial Regulatory Authority (FRA) to amend the mandatory tender offer (MTO) submitted for acquiring up to 4.702 million shares or 90% of Alexandria National Company for …
The transaction involved the trading of 271.77 million shares
15 July 04:56 PM EGX executes EGP 10.27bn transaction on Amoun's shares
Cairo - Mubasher: The Egyptian Exchange (EGX) announced the execution of a mandatory tender offering (MTO) on the shares of Amoun Pharmaceutical Company, an unlisted company.  The transaction involved the trading of 271.77 million shares for EGP …
The agreement is still subject to approvals of several authorities
15 July 03:33 PM Amana receives GAC’s approval for merger with Saudi Enaya
Riyadh – Mubasher: Amana for Cooperative Insurance Company said that the Saudi General Authority of Competition has issued a non-objection note for the merger with Saudi Enaya for Cooperative Company on 14 July. The agreement is still subject to …
Eventtus' 20 engineers and the founders Mai Medhat and Nihal Fares will join Bevy’s team
15 July 01:11 PM US Bevy acquires Egyptian events startup Eventtus
Cairo - Mubasher: Bevy, a US-based enterprise event platform for virtual conferences and community events, has acquired the Egyptian event management software startup, Eventtus, for an undisclosed sum.  Eventtus' 20 engineers and founders Mai …
The agreement was signed on 13 July
14 July 03:00 PM Saudi BCI plans to acquire stake in UAE’s Union Chlorine
Riyadh – Mubasher: Basic Chemical Industries Company (BCI) intends to acquire 49% ownership of UAE-based Union Chlorine, according to a bourse filing on Wednesday. The Saudi company has signed a memorandum of understanding (MoU) with Oman …
Emirates NBD Bank no longer holds any shares in NGI
14 July 12:45 PM Dubai Investments ups stake in NGI for AED 71m
Dubai - Mubasher: National General Insurance Co (NGI) witnessed a direct deal worth AED 71.067 million on the Dubai Financial Market (DFM). The transaction involved the trading of 22.778 million shares at a value of AED 3.12 apiece, the DFM said …
The transaction was awarded by the National Center for Privatization
13 July 05:50 PM Abdullah Al Othaim acquires Fourth Milling for SAR 859m
Riyadh – Mubasher: Abdullah Al Othaim Markets Company is acquiring the Fourth Milling Company for SAR 859 million, according to a bourse filing on Tuesday. The transaction was awarded by the National Center for Privatization to the consortium of …
Julphar has previously held a 40% stake in the company
13 July 04:12 PM Julphar fully acquires Planet Pharmacies
Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) has entered into an agreement to fully acquire Planet Pharmacies, one of the leading pharmaceutical distributors in the UAE, Saudi Arabia, and the Sultanate of Oman. Julphar, which …
The MTO includes the acquisition of 300 million shares for EGP 22.33 apiece
13 July 04:10 PM FRA considers Bank ABC's MTO for Blom Bank Egypt
Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) said that Bahrain's Arab Banking Corporation (Bank ABC) submitted a draft mandatory tender offering (MTO) to acquire 300 million shares or 100% of the issued capital of Blom Bank …
Al Ahly Pharos served as the exclusive sell-side advisor to the selling shareholders of ICC
13 July 03:37 PM Al Ahly Pharos advises on International Cables sale deal
Cairo - Mubasher: Al Ahly Pharos Investment Banking has advised on the share purchase agreement (SPA) for the sale of 99.25% of International Cables Company (ICC) to Elsewedy Electric Co. for EGP 410 million.  Al Ahly Pharos served as …
CI Capital owns 98.1% of CI Consumer Finance - Souhoola
13 July 11:57 AM CI Capital approves in principle offer to sell Souhoola
Cairo - Mubasher: The board of directors of CI Capital Holding For Financial Investments approved in principle a non-binding offer submitted by Banque Misr to purchase CI Capital's stake of 98.1% in CI Consumer Finance - Souhoola.  The board also …
The company plans to sell 772,200 shares, representing 15.6% of Medco Plast's capital
13 July 11:03 AM Middle East Glass Manufacturing to sell entire stake in Medco Plast
Cairo - Mubasher: The board of directors of Middle East Glass Manufacturing Co approved a decision to sell its entire stake in Medco Plast for Packing and Packaging Systems.  The company plans to sell 772,200 shares, representing 15.6% of Medco …
AlAhli Takaful’s assets and liabilities will be transferred to Arabian Shield
12 July 05:54 PM AlAhli Takaful, Arabian Shield ink binding MoU for merger
Riyadh – Mubasher: AlAhli Takaful Company and Arabian Shield Cooperative Insurance have signed a binding memorandum of understanding (MoU) on 12 July for the potential merger between the two entities, according to two separate bourse disclosures …
The asset has an annual leasing value of SAR 7.77 million
12 July 04:09 PM Musharaka REIT Fund plans to acquire asset for SAR 85.5m
Riyadh – Mubasher: Musharaka REIT Fund, managed by Musharaka Capital Company, plans to acquire Gardino Hotel in Riyadh for SAR 85.5 million, according to a bourse filing. The 3,495.35-square-metre asset has an annual leasing value of SAR 7.77 …
The trading suspension has taken place for one session
12 July 03:46 PM Trading on AlAhli Takaful, Arabian Shield suspended – Tadawul
Riyadh – Mubasher: The Saudi Exchange (Tadawul) announced suspending trading on the stocks of both AlAhli Takaful Company and Arabian Shield Cooperative Insurance. The trading suspension has taken place for one session on Monday, 12 July, upon the …
The CMA has approved the merger of NCB Capital and Samba Capital
11 July 04:22 PM CMA approves merger of NCB Capital, Samba Capital
Riyadh - Mubasher: The Saudi Capital Market Authority (CMA) has approved the merger of NCB Capital Company (NCB Capital) and Samba Capital and Investment Management Company (Samba Capital). The Saudi National Bank (SNB) announced that the merger …
Gulf Customer Experience has been valued at $15.797 million
11 July 03:36 PM Raya Contact Center to acquire 85% of Gulf Customer Experience
Cairo - Mubasher: The board of directors of Raya Contact Center approved the acquisition of 85% of Bahrain's Gulf Customer Experience, amounting to 335,829 shares. The share purchase agreement and all other contracts related to the transaction …
The agreement is conditional on the satisfaction of certain terms and conditions
11 July 12:00 PM Elsewedy Electric inks EGP 410m deal to acquire International Cables Company
Cairo - Mubasher: Elsewedy Electric Co signed a share purchase agreement (SPA) for 99.25% of the shares of International Cables Company.  The EGP 410 million agreement is conditional on the satisfaction of certain terms and conditions related to …
The company plans to sell its indirect stake in Empain Tourism Investments Company
8 July 01:55 PM Remco hires financial advisor to assess value of Empain Tourism Investments
Cairo - Mubasher: The board of directors of Remco for Tourism Villages Construction decided to hire Dar El Khebra for Evaluation and Engineering Consulting to assess the value of Empain Tourism Investments Company.  The company plans to sell its …