Mergers and Acquisitions

Photo Archive
18 October 06:39 PM SODIC shareholders to benefit from Madinet Nasr acquisition
Cairo - Mubasher: MubasherTrade Research is recommending Buy with “Low Risk” on the stock of Sixth of October Development and Investment Company (SODIC) with a price target (PT) of EGP 33.5 per share. SODIC announced that its board of directors …
The new transaction enhances the company’s portfolio
18 October 01:50 PM Qatar’s Katara buys US Plaza Hotel
Mubasher: Katara Hospitality, Qatar's leading hospitality organisation, announced that it is planning to expand its global portfolio by acquiring US Plaza Hotel. The step is the first of its kind concerning expansion in the US. The new transaction …
The world's largest oil producer and Zhejiang province will sign the acquisition agreement later on Thursday
18 October 09:55 AM Aramco to acquire stake in Chinese refinery-petrochemical project
Riyadh – Mubasher: State-run Saudi Aramco on Thursday announced plans to acquire a stake in a refinery-petrochemical project in eastern China, senior vice president of downstream, Abdulaziz al-Judaimi, said. The world's largest oil producer and …
Photo Archive
17 October 05:35 PM Dnata raises stake in Milan’s Airport Handling to 70%
Dubai - Mubasher: Dnata on Wednesday announced that it has activated the purchase option to acquire 40% of Airport Handling shares, raising its stake in the Milan-based company to 70%. UAE-based Dnata now has the governing stake in the Italian …
The transaction’s total value amounted to QAR 193.48 million
17 October 12:32 PM Invest Holding acquires remaining stake in Engineer Systems for QAR 193m
Mubasher: Investment Holding Group (IHG) has signed an agreement with Engineering Systems to complete acquiring the remaining 39.6% stake. The transaction’s total value amounted to QAR 193.48 million ($53.64 million), according to a filing to the …
MNHD hired the law firm until it receives a final offer from SODIC
16 October 02:44 PM MNHD appoints legal advisor for potential acquisition by SODIC
Cairo – Mubasher: Madinet Nasr Housing and Development’s (MNHD) board of director has appointed Zaki Hashem and Partners Law Firm as its legal advisor for Sixth of October for Development and Investment’s (SODIC) acquisition offer. The company …
This came after plans to take GEMS Education public were suspended
16 October 02:22 PM Dubai's GEMS Education owners mull 25% stake sale
Dubai– Mubasher: Investors in GEMS Education are considering a sale of a 25% stake in the UAE-based international education operator, sources with knowledge of the matter said on Tuesday.   This came after plans to take GEMS Education public were …
B Investments is studying the offer as it holds a 7.51% stake, or 90.064 million shares, in MNHD
16 October 01:30 PM B Investments mulls SODIC’s offer to acquire MNHD
Cairo – Mubasher: B Investments Holdings is currently considering the offer submitted by Sixth of October for Development and Investment (SODIC) to acquire a stake in Madinet Nasr Housing and Development (MNHD). The company is studying the offer …
MENA M&A deals surpass $45 billion in 9 months
15 October 07:05 PM MENA M&A deals surpass $45bn in 9M – Report
Mubasher: Merger and acquisition (M&A) transactions in the Middle East and North Africa (MENA) surged 65%, reaching $45.1 billion in the first nine months of 2018, marking an eight-year high, according to a new report. The MENA region’s inbound …
Petronash will set up research and development centres in India and Saudi Arabia
15 October 09:31 AM Waha Capital acquires stake in Dubai’s Petronash for $88m
Abu Dhabi – Mubasher: Waha Capital on Monday announced that it has acquired a significant minority stake in Dubai-based oilfield services and manufacturing company Petronash Holding for $88 million. Under the deal, the Abu Dhabi-based investment …
SABB-Alawwal union allows more retail business
14 October 03:57 PM SABB-Alawwal union to boost retail business; deal to finalise in H1-19 – MD
Riyadh – Mubasher: There are many benefits to the merger between the Saudi British Bank (SABB) and Alawwal Bank, the merged entity’s newly-appointed managing director has said. Not only will the merger create the third largest bank in Saudi …
SODIC to acquire 51% stake in MNHD
14 October 03:40 PM SODIC to acquire 51% stake in MNHD
Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) is planning to submit a purchase offer to acquire around 51% stake in Madinet Nasr Housing and Development (MNHD) through a share swap. Upon the deal, Sodic will exchange …
The Saudi market “rich in outstanding investment opportunities," said Arcapita CEO Atif Ahmed Abdulmalik
14 October 03:26 PM Arcapita marks $520m investments in FY, eyes GCC expansion – CEO Interview
By: Mahmoud Gamal Dubai – Mubasher: Arcapita has conducted several successful investments this past fiscal year and our real estate team is targeting further acquisitions in the UAE, Saudi Arabia, and the United States in the coming period, …
This decision follows news published in a newspaper regarding SODIC’s acquisition for MNHD through a stock swap deal
14 October 12:22 PM EGX suspends trading on SODIC, MNHD
Cairo – Mubasher: The Egyptian Exchange (EGX) on Sunday has suspended trading on the stocks of Madinet Nasr Housing and Development (MNHD) and Sixth of October for Development and Investment (SODIC). This decision follows news published in a …
The acquisition total cost amounted to KWD 338,200
11 October 11:47 AM Burgan’s CEO buys 1.3m shares in bank
Mubasher: Burgan Bank on Thursday announced that its CEO Eduardo Eguren has bought around 1.3 million shares in the bank. The total cost of the purchase amounted to KWD 338,200, or 260 fils per share, according to the lender’s statement to Boursa …
Al Khair National started negotiations with Liberty House Group in December 2017
11 October 11:03 AM Al Khair National suspends talks to sell 38% stake in Gulf Cement
Abu Dhabi – Mubasher: Gulf Cement Company announced that Al Khair National for Stocks and Real Estate has suspended talks over selling its 37.81% stake in Gulf Cement to Liberty House Group. Al Khair has ended negotiations with the potential …
The offer is subject to related due diligence procedures
11 October 08:57 AM IFA’s Kuwaiti arm receives stake purchase offer in Turkish firm
Mubasher: First Takaful Insurance, a subsidiary of International Financial Advisors (IFA), on Thursday announced that one of its consultants in Turkey has received an offer to buy its 35% stake in Neova Sigorta in Turkey. The offer is subject to …
Portugal’s Metalogalva acquires 40% in Al Babtain’s unit
8 October 05:04 PM Portugal’s Metalogalva acquires 40% in Al Babtain’s unit
Riyadh – Mubasher: Al Babtain Power and Telecommunication has said that Portugal-based Metalogalva acquired 40% stake in its wholly-owned subsidiary Al Babtain Renewable Energy Solutions at a value of SAR 2 million ($530,000). The two parties …
Baker Hughes acquires stake in ADONC Drilling at $550m
8 October 12:21 PM Baker Hughes acquires $550m stake in UAE's ADNOC Drilling
Abu Dhabi – Mubasher: Baker Hughes on Monday signed an agreement with ADNOC Drilling, the subsidiary of the Abu Dhabi National Oil Company (ADNOC) to acquire a 5% stake in the unit at a value of AED 2 billion ($550 million). This deal is …
The current talks aim at reaching a fair settlement to swap the stocks of KFH, AUB Bahrain
7 October 01:00 PM KFH, AUB Bahrain likely to announce merger price in days
Mubasher: Kuwait Finance House (KFH) and AUB Bahrain are expected to announce the price of merging the two banks in the few coming days, sources said. Sources have told Al Arabiya that the current talks aim at reaching a fair settlement to swap …
Kuwait’s Zain acquires 51% of Al Wazzan Group
7 October 09:33 AM Kuwait’s Zain acquires 51% of Al Wazzan Group
Mubasher: Mobile Telecommunications “Zain” has acquired a majority stake in Al Wazzan Group of Companies. Under the deal, Zain purchased a 51% stake in Al Wazzan Group, sources told Kuwaiti newspaper Al Seyasa, indicating that the deal involved …
The new shares will be issued through capital hike
4 October 09:52 AM SABB, Alawwal Bank ink binding merger deal
Riyadh – Mubasher: The Saudi British Bank (SABB) and Alawwal bank have signed a binding merger agreement on Wednesday, 3 October. The two Saudi lenders approved to carry out regulatory procedures for merger pursuant subject to articles 191-193 of …
Photo Archive
4 October 12:30 AM Maersk provides great support for SCCT - CEO
By: Fahd Omran Cairo - Mubasher: Suez Canal Container Terminal (SCCT) expects the Port Said dock to maintain the same level of trade achieved last year of 2.5 million containers in 2018, according to CEO Lars Vang Christensen. Strong competition …
Photo Archive
4 October 12:06 AM TE reveals motives behind EISCC acquisition
Cairo - Mubasher: Egypt Telecom said that acquiring a stake in the Egyptian International Submarine Cables Company (EISCC) aims at a complete acquisition in the Middle East and North Africa Submarine Cable Company (MENA-SCS), according to the …
The step came fater the Turkish Lira dropped by more than a fifth of its value since the deal was signed
3 October 01:27 PM Emirates NBD mulls renegotiating Turkish Denizbank's acquisition offer after Lira crisis
Dubai – Mubasher: Emirates NBD is mulling over renegotiating its offer for Russia’s state-owned Sberbank to acquire its wholly-owned Turkish unit, Denizbank. The step came after the Turkish Lira dropped by more than a fifth of its value since the …