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Mergers and Acquisitions

The companies proposed to be merged include Kaha and Idfina
19 June 01:32 PM Egypt plans to merge units of Food Industries Holding
Cairo – Mubasher: Egypt’s minister of supply and internal trade, Ali Meselhy, revealed plans to develop and merge some subsidiaries of Holding Company for Food Industries, Al-Ahram newspaper reported.  The companies proposed to be merged include …
SABB has listed and deposited the consideration shares in eligible accounts of Alawwal shareholders
19 June 11:25 AM SABB deposits consideration shares in eligible accounts of Alawwal shareholders
Riyadh – Mubasher: Saudi British Bank (SABB) has listed and deposited the consideration shares in the accounts of the eligible Alawwal bank shareholders. Accordingly, pursuant to the merger agreement and as set out in the Shareholder Circular, the …
The consortium also includes TCV1 and Acquire for Investment
18 June 12:22 PM Consortium-led Ebtikar acquires Orascom’s 87% stake in Tamweel Group
Cairo – Mubasher: A consortium led by Ebtikar for Financial Investment has completed the acquisition of Orascom Development Egypt’s entire stake in Tamweel Group, representing 87% of the company, with a total company valuation of EGP 360 million. …
Uber and Careem will remain separate entities
18 June 11:02 AM Uber, Careem to remain separate for now – Careem CFO
Mubasher: Uber will retain the brand of Careem, the ride-hailing business in the Middle East, for the current time, the CFO of Careem Ankur Shah said, according to Reuters. Uber and Careem will remain separate entities until at least the first …
Tadawul has delisted Alawwal Bank Shares on the back of merger with SABB
18 June 09:57 AM Tadawul delists Alawwal Bank shares after merger with SABB
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Tuesday announced that it has delisted Alawwal Bank shares on the back of merger with the Saudi British Bank (SABB), according to Tadawul’s statement. On Sunday, SABB and Alawwal Bank …
The company seeks to acquire 55.3% stake in Arabian Hospitality Company
17 June 01:24 PM Egyptian Media Production in talks to acquire stake in Arabian Hospitality
Cairo – Mubasher: Egyptian Media Production City Co’s board of directors approved initiating negotiations to acquire stakes of four companies in Arabian Hospitality Company. The Egyptian company seeks to acquire 55.3% of Arabian Hospitality …
The bank affirmed appointing David Dew as the managing director
17 June 01:00 PM SABB hires Lubna Olayan as chairman following merger with Alawwal Bank
Riyadh – Mubasher: The Saudi British Bank (SABB) on Monday announced that its board of directors decided to appoint Lubna Sulaiman Olayan as the bank’s chairman until the end of the term of the board following the previously signed merger …
Pioneers Holding Company holds a 70% stake in Panda
16 June 12:43 PM Dutch firm seeks to acquire Arab Dairy
Cairo – Mubasher: Arab Dairy Products Co. (Panda) announced that Dutch FrieslandCampina International Holding has submitted a request on Friday to carry out a due diligence process for the acquisition of the Egyptian dairy firm. This step is part …
The deal is expected to be finalised by 28 June
16 June 11:59 AM Elsewedy Electric inks EUR 55m deal to acquire 4 power firms in Greece
Cairo – Mubasher: Elsewedy Electric announced signing a purchase agreement with R.F. Energy S.A, subsidiary to F.G Europe S.A, to acquire the entire stake in four companies in Greece for EUR 55 million. The deal includes the acquisition of three …
Alawwal Bank did not receive any objections from creditors during this period
16 June 10:45 AM SABB, Alawwal Bank complete merger after expiry of creditor objection period
Riyadh – Mubasher: The Saudi British Bank (SABB) and Alawwal Bank announced the effectiveness of their merger after the expiry of the creditor objection period on 15 June. Alawwal Bank noted that the bank did not receive any objections from …
The value of the transaction was not disclosed.
16 June 10:16 AM Emirates Investment Authority buys 10% stake in DU
Dubai - Mubasher: Mamoura Diversified Global Holding, formerly known as Mubadala Development Company, and General Investments FZE sold a total of 463.26 million shares in Emirates Integrated Telecommunications Company (DU) to the Emirates …
The final deal could be announced in the coming days
16 June 09:59 AM ADNOC, Dutch OCI mull combining Middle Eastern fertiliser business
UAE –​ Mubasher: Abu Dhabi National Oil Company (ADNOC) and Dutch OCI are considering combining their Middle Eastern fertiliser businesses, Bloomberg News reported. The final deal between ADNOC and the Netherlands-based chemical producer could be …
The six-month deal has no relates parties
13 June 10:53 AM Jazadco pens MoU to study acquisition of Jabal Ohod Holding
Riyadh – Mubasher: Jazan Energy and Development Company (Jazadco) has signed a memorandum of understanding (MoU) with Jabal Ohod Holding to study the acquisition of the company. The six-month deal has no relates parties and is not expected to have …
The creditor objection period will end on 15 June
12 June 11:48 AM Alawwal Bank reveals effective date of merger with SABB
Riyadh – Mubasher: Alawwal Bank announced that its merger with the Saudi British Bank (SABB) will be effective immediately after the end of the creditor objection period. If no creditor objects to the proposed tie-up until 15 June, the merger will …
Vornado agreed to sell its 25% stake in the property for $900 million.
12 June 11:01 AM ADIA fully acquires New York’s 330 Madison Avenue
Abu Dhabi – Mubasher: Abu Dhabi Investment Authority (ADIA) has purchased a 25% stake in 330 Madison Avenue in New York from Vornado Realty Trust, a spokesman of ADIA told Reuters on Wednesday. The stake has been bought by a subsidiary of the …
A previous general assembly of KAMCO
11 June 05:43 PM CI affirms KAMCO’s credit rating; Outlook seen ‘Stable’
Mubasher: KAMCO Investment announced that Capital Intelligence Ratings (CI) has affirmed the long-term and short-term credit ratings of the company at ‘BBB’ and ‘A3’, respectively, with a ‘Stable’ outlook in a recent report. The leading investment …
Hassan Allam plans to be part of water poverty solutions
11 June 10:52 AM Hassan Allam’s unit buys majority stake in Bioworks AG for undisclosed amount
Cairo – Mubasher: Hassan Allam Holding announced that its subsidiary, Hassan Allam Holding B.V, acquired a majority stake in the German water, wastewater treatment firm, Bioworks AG, for an undisclosed amount. The transaction represents a major …
The rise comes along with  Amazon and Souq announcement of launching Amazon.ae
10 June 02:41 PM Amazon.ae's Ad Awareness drive achieves largest rise in UAE in May
UAE – Mubasher: Amazon.ae has achieved a significant rise in its Ad Awareness across the UAE in May. The rise comes along with  Amazon and Souq announcement of launching Amazon.ae at the beginning of May, according to Amazon.ae’s statement on …
Madison Apartment Group will act as on-site property manager for the newly-acquired portfolio
10 June 01:59 PM Investcorp acquires $370m real estate assets in US
Mubasher: Bahrain-based Investcorp, in partnership with a subsidiary of Philadelphia-based Equus Capital Partners, has acquired 11 new US multifamily properties with a combined value near $370 million. Madison Apartment Group, Equus’ management …
The company bought an 8.10% stake in Al Aqeeq and a 12.65% shareholding in ARAC
10 June 12:37 PM Taiba Investment completes acquisition of Al Aqeeq, ARAC
Riyadh – Mubasher: Taiba Investment has finalised all regulatory procedures to acquire minority shares in Al Aqeeq Real Estate Development Company and Arab Resort Areas Company (ARAC). The company bought an 8.10% stake in Al Aqeeq and a 12.65% …
The shareholders in DIB will weigh up the acquisition of 100% stake in Noor Bank
10 June 09:48 AM DIB considers acquisition of Noor Bank
Dubai – Mubasher: The board of directors of Dubai Islamic Bank (DIB) has recommended during the bank’s general meeting to consider the full acquisition of Noor Bank’s shares. The shareholders in DIB will weigh up the acquisition of 100% stake in …
The deadline for making any final acquisition offers to Roberto Cavalli is 14 June
9 June 12:49 PM Italy’s Roberto Cavalli considers Damac as final bidder for acquisition
Dubai – Mubasher: Roberto Cavalli Group is reportedly considering the leading property developer based in UAE Damac Properties and the Italian fashion group OTB as the final candidates to acquire the group, according to Italian-based MF Fashion. …
The value of the transaction has not been revealed yet
4 June 09:20 AM UK’s BP to sell Egyptian oil assets to Dubai’s Dragon Oil
Cairo – Mubasher: The UK-based oil and gas company BP Plc said it would sell its stake in the Gulf of Suez oil concessions in Egypt to Dubai-based Dragon Oil. The value of the transaction has not been revealed yet, Egypt Oil & Gas reported. Upon …
Misr Hytech has become a leading seed company in Africa
3 June 01:57 PM Helios Investment, EAEF acquire 97% stake in Misr Hytech
Cairo – Mubasher: Helios Investment Partners (Helios) and the Egyptian-American Enterprise Fund (EAEF) announced the acquisition of a 96.7% stake in Misr Hytech Seed International (Misr Hytech).   EAEF stressed on “the great potential of this …
Global Investment House – Egypt is fully owned by Global Investment House in Kuwait
3 June 01:38 PM KAMCO inks EGP 1.4m acquisition deal on Global – Egypt’s shares
Mubasher: KAMCO Investment has signed an initial acquisition agreement for the entire shares of Global Investment House – Egypt, directly and indirectly, through two companies in Kuwait and the Dubai International Financial Centre (DIFC). This …