Riyadh – Mubasher: The net losses of Rabigh Refining and Petrochemical Company (Petro Rabigh) hiked by 14.12% year-on-year (YoY) to SAR 2.46 billion in the first half (H1) of 2024 from SAR 2.16 billion. The revenues amounted to SAR 17.99 billion …
Abu Dhabi – Mubasher: ADNOC Drilling Company generated net profits worth $570 million in the first half (H1) of 2024, higher by 28% than $446 million in H1-23. The revenues hiked by 26% year-on-year (YoY) to $1.82 billion in H1-24 from $1.44 …
Dubai – Mubasher: Al Ansari Financial Services has signed a sales and purchase agreement to fully acquire Bahrain-based BFC Group Holdings W.L.L., (BFCGH) for $200 million (AED 735 million). The acquisition will enable the DFM-listed company to …
Cairo – Mubasher: Egyptian fintech company MNT-Halan has acquired Tam Finans, a Turkish commercial finance company with loan book exceeding $300 million, from Actera Group, and the European Bank for Reconstruction and Development (EBRD). Legal and …
Cairo – Mubasher: The Financial Regulatory Authority (FRA) has approved MENA Glass Holdings Limited's offer to acquire a 40.76% stake, equivalent to 25.52 million shares, in Middle East Glass Manufacturing Company (MEGM). The offer set the price …
Mubasher: GFH Financial Group has increased its equity ownership in GFH Equities, previously known as GBCorp, by 12.50% during July 2024. Following the transaction, the cross-listed group holds a majority stake of 76.63%, according to a press …
Abu Dhabi – Mubasher: Emirates Driving Company has acquired a 51% equity ownership in Excellence Premier Investment, the parent company of Excellence Driving Centre, at a value of AED 153 million. The transaction is part of the listed company’s …
UAE – Mubasher: DP World and Turkey’s Evyap Group have completed a strategic merger to create an international logistics hub, combining their Marmara Seaport assets. The completion comes after receiving regulatory approval from the Turkish …
UAE – Mubasher: MENA’s leading digital content provider Majarra has acquired Lableb, AI-based search engine that deals with the nature of Arabic content online. This strategic transaction anchors Majarra's position at the forefront of Arabic …
Riyadh - Mubasher: Saudi Arabia’s Al Haytham Mining Company is considering acquiring a stake in Egypt’s Afaq Mining, Asharq News reported, citing CEO Khaled Al Jahdali. The Saudi company’s board plans to offer a share of the company’s stocks on …
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) will acquire a 50% stake in Jubail-based Blue Hydrogen Industrial Gases Company (BHIG) upon definitive agreements with the parent company Air Products Qudra (APQ), according to a press release. …
Abu Dhabi – Mubasher: Sirius Digitech, a joint venture (JV) between the Adani Group and Sirius International Holding, a subsidiary of International Holding Company (IHC), has signed binding agreements for the acquisition of Coredge.io, a …
Riyadh – Mubasher: Lana Medical Company has acquired 50% of Solar Laser Systems Company and Solar Maccom Company in Belarus for SAR 6 million. The deal aims to transfer industry and technologies to Saudi Arabia in line with Vision 2030, according …
Abu Dhabi – Mubasher: Enersol, a joint-venture (JV) between ADNOC Drilling Company and Alpha Dhabi Holding, has acquired a 51% equity stake in NTS AMEGA for $58 million. The NTS acquisition aligns with Enersol’s strategy to become a …
UAE – Mubasher: DUBAL Holding has acquired an equity stake in BiOD Technology FZCO, marking a strategic push into green investments. The deal underscores DUBAL Holding's commitment to sustainable wealth funds and Dubai's vision of a greener …
Abu Dhabi – Mubasher: The general assembly meeting of Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement) approved, on 9 July 2024, the conditional cash offer from Indian manufacturer UltraTech Cement Middle East …
Cairo – Mubasher: The Egyptian Exchange (EGX) has completed the transfer of the ownership of around 427.71 million shares in Elsewedy Electric Company to Two Point Zero Group, a subsidiary of International Holding Company (IHC), for EGP 21.20 …
Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) has announced the completion of all procedures to conclude selling its entire 49.90% equity in the UK-based Probitas Holdings (Bermuda) Limited (PHBL) and its subsidiaries. Saudi Re exited …
Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) has signed a binding subscription agreement with the Public Investment Fund (PIF) to increase its capital from SAR 891 million to SAR 1.15 billion. Saudi Re is set to increase its capital …
Cairo – Mubasher: The Egyptian Exchange (EGX) announced extending the validity period for the acquisition offer the non-binding offer (NBO) for the acquisition of Elsewedy Electric Company by the UAE’s Electra Investment Holding to 8 July 2024. In …
Mubasher: CoinDCX, the largest crypto exchange in India, has acquired Dubai-based virtual assets trading platform BitOasis, for an undisclosed value, according to a press release. CoinDCX previously invested in BitOasis during August 2023 and the …
By: Abdel Razek El-Showeikhy Cairo – Mubasher: Act Financial is planning to acquire stakes in real estate, healthcare, and logistics companies, Managing Partner Mostafa Abdelaziz told Mubasher in an interview. The company is finalising procedures …
Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments has witnessed a block-trading transaction of EGP 1.02 billion on Monday, 1 July 2024. The deal was executed on 170.24 million shares, according to an announcement. In the first …
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) inked definitive agreements to acquire a 10% stake in HORSE Powertrain Limited, the new global powertrain solutions company. Aramco’s subsidiary pended the deals alongside Renault Group, …
