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Mergers and Acquisitions

Capital restructuring will be executed through a reduction to KWD 23.745 million
22 August 01:40 PM KAMCO receives CMA’s approval to capital restructuring
Mubasher: KAMCO Investment announced that it has received the Capital Markets Authority’s (CMA) assent to restructure its capital, hence, complementing KAMCO’s merger with Global Investment House. The capital restructuring will be executed through …
Prime Holding’s net profits tumbled to EGP 4.46 million in H1
21 August 05:48 PM Prime Holding ends talks to acquire Pharos Holding’s two units
Cairo – Mubasher: Prime Holding has ended negotiations to acquire the entire stake of Pharos Holding for Financial Investments in Pharos Securities Brokerage and Pharos Investment Banking. An agreement has not been reached after Pharos asked for a …
GIH capital will be reduced by KWD 1.325m
21 August 05:46 PM Kuwait’s CMA approves Global Investment House capital cut
Mubasher: KAMCO Investment on Wednesday announced that its subsidiary Global Investment House (GIH) received the approval of the Capital Markets Authority’s (CMA) for the reduction of its capital. The capital reduction is one of the procedures …
ADIB UK financed BLME for the acquisition of an AED 120 million office building in Edinburgh
21 August 11:16 AM ADIB’s UK unit funds BLME for AED 120m takeover in Edinburgh
Abu Dhabi - Mubasher: ADIB UK, a wholly-owned subsidiary of Abu Dhabi Islamic Bank (ADIB), announced it has provided The Bank of London and the Middle East (BLME), a UK-based Shari'ah compliant bank, a financing for the acquisition of an AED 120 …
The deal will be subject to all regulatory approvals
20 August 03:34 PM Bahraini, Kuwaiti AUB sell 196.1m shares in KMEFIC
Mubasher: Ahli United Bank – Bahrain and Ahli United Bank – Kuwait have signed an agreement to sell their stakes in Kuwait and Middle East Financial Investment (KMEFIC), according to a bourse statement released on Tuesday. Both banks hold 196.1 …
Partnering up with RiseUp will open many new avenues for MENAbytes - Zubair
19 August 03:48 PM RiseUp acquires regional technology publication MENAbytes
Mubasher: The region’s largest startup and entrepreneurship summit, RiseUp, announced the acquisition of MENAbytes, the leading startup and technology publication in the Middle East and North Africa (MENA) region. RiseUp’s takeover deal also …
Prime Holding’s net profits plunged to EGP 4.46 million in H1-19
19 August 01:57 PM Prime completes due diligence to acquire Pharos Holding’s two units
Cairo – Mubasher: Prime Holding announced the completion of the due diligence process to acquire two subsidiaries of Pharos Holding for Financial Investments; namely Pharos Securities Brokerage and Pharos Investment Banking. A preliminary …
Egy Lease aims to sell its entire stake of 10.4% in MUP
18 August 01:59 PM Industrial Development & Workers Bank seeks to acquire Egy Lease’s stake in MUP
By: Islam Fadl Cairo – Mubasher: Industrial Development and Workers Bank of Egypt is currently in negotiations to acquire Egy Lease’s entire stake in Medical Union Pharmaceuticals (MUP), chairperson of Egy Lease, Iman Ismail, said. Egy Lease, …
GTH's EGM will be held on 9 September
18 August 12:29 PM Global Telecom's board approves VEON’s $2.3bn asset transfer offer
Cairo – Mubasher: Global Telecom Holding’s (GTH) board of directors approved the offer submitted by VEON Ltd. to acquire the company’s assets for $2.3 billion, according to a statement to the Egyptian Exchange (EGX) on Sunday. The board approved …
The company will announce the value of the transaction once completed
18 August 10:08 AM Damac still in talks with DICO Properties over land plots acquisition
Dubai – Mubasher: Damac Properties, a leading property developer in the UAE, on Sunday revealed that negotiations regarding the acquisition of two plots of lands in Al Sufouh and Business Bay areas in Dubai offered by DICO Properties Co LLC have …
Al Enmaa’s capital amounted KWD 45m
15 August 06:09 PM PIFSS acquires indirect stake in Al Enmaa Real Estate
Mubasher: Kuwait’s Public Institution for Social Security (PIFSS) has acquired a 5.13% indirect stake in Al Enmaa Real Estate (ERESCO), according to a bourse statement released on Thursday. Al Enmaa’s capital amounted KWD 45.05 million distributed …
KFH headquarters
15 August 03:54 PM Kuwait’s PIFSS approves KFH-AUB merger
Mubasher: The Kuwaiti Public Institution for Social Security (PIFSS) on Thursday approved the merger between Kuwait Finance House (KFH) and Ahli United Bank -Bahrain (AUB), according to Al-Qabas newspaper. Wafra International Investment Company …
The transaction’s total cost amounted to AED 18 billion
15 August 03:30 PM IBC Group plans to acquire 10,000 premier properties in Dubai
UAE – Mubasher: IBC Group eyes acquiring 10,000 premier properties in Dubai to furnish and manage as holiday homes, according to IBC Group’s recent statement. IBC has contracted Berkshire Hathaway HomeServices Gulf Properties (BHHS Real Estate …
15 August 01:12 PM Bahrain’s Al Salam Bank denies news on merger with UAE bank
Mubasher: Al Salam Bank, listed on both Bahrain Bourse and the Dubai Financial Market (DFM), stated that the news published on a possible merger with the UAE’s Mashreq Bank is “incorrect”. On 14 August, the Bahraini newspaper Alwatan published …
Shuaa Capital's net losses recorded AED 31.6 million in Q2-19
14 August 10:24 AM Shuaa Capital H1 revenues total AED 103m; name changed to ADFG
Dubai – Mubasher:  Shuaa Capital deepened its net losses to AED 31.6 million during the second quarter of 2019, compared to AED 14.6 million in Q2-18. Revenues for the quarter levelled up by 54.4% to AED 47.5 million, from AED 30.8 million in the …
An Amazon data centre in San Francisco was sold for $35 million
13 August 10:24 AM SEDCO Capital ends $338m of global real estate exits
Riyadh – Mubasher: SEDCO Capital, the Saudi asset manager, has sold seven global real estate investments worth $338 million, achieving an average internal rate of return (IRR) of 14%. The seven properties that were acquired between 2012 and 2016 …
Aramco may acquire 20% stake in Reliance’s O2C division
12 August 03:52 PM Saudi Aramco eyes stake in India’s Reliance Industries
Riyadh - Mubasher: Saudi Aramco and Reliance Industries Limited (RIL) have signed a non-binding Letter of Intent (LoI) for the investment in the Oil to Chemicals (O2C) division including the refining, petrochemical, and fuels marketing businesses …
Ma’aden Marketing has received the applicable regulatory approval to acquire 8a5% of Meridian Group
8 August 04:17 PM Ma’aden’s unit abstains required approvals to acquire Meridian Group
Riyadh – Mubasher: Ma’aden Marketing and Distribution Company, which is fully owned by Saudi Arabian Mining Company (Ma’aden), has received the applicable regulatory approval to complete the transaction to acquire 8a5% of Meridian Group. The …
GTH’s shares will be delisted as of 14 August
8 August 01:58 PM EGX executes mandatory tender offer for GTH’s shares at EGP 9.7bn
Cairo – Mubasher: The Egyptian Exchange announced the closure of the mandatory tender offer for shares of Global Telecom Holding (GTH) submitted by VEON Holdings B.V. at a combined value of EGP 9.72 billion. The total number of shares tendered …
The recent announcement has no financial impact
7 August 07:01 PM Al Ahsa Development extends MoU to acquire medical firm
Riyadh – Mubasher: Al Ahsa Development Company has extended a memorandum of understanding (MoU) to acquire Al Salam Medical Services Company for 92 days until 28 November. The company attributed the MoU extension to complete documents required for …
""We are very pleased to have ADNOC as our new shareholder"
7 August 05:27 PM Adnoc to acquire 10% stake in global energy storage firm
UAE – Mubasher: The Abu Dhabi National Oil Company (Adnoc) has announced that it will acquire a 10% stake in global energy storage company VTTI, the Emirates News Agency (WAM) reported on Wednesday. Following the finalisation of the deal, each of …
KSPIC will be a subsidiary of Mezzan
6 August 03:32 PM Mezzan Holding finalises $69m acquisition
Mubasher: Mezzan Holding on Tuesday announced the finalisation of the acquisition of 66.99% of Kuwait Saudi Pharmaceutical Industries Company (KSPIC) in consideration of KWD 20.96 million ($69.02 million). KSPIC will be a subsidiary of Mezzan as …
EGMPT was established in 2018 with a capital of EGP 500 million
6 August 02:38 PM Alexandria Container acquires 13% stake in EGMPT
Cairo – Mubasher: Holding Company for Maritime and Land Transport’s board of directors approved the transfer of ownership of 13% of the total capital of the Egyptian Group for Multipurpose Terminals (EGMPT) to Alexandria Container and Cargo …
The transaction’s total cost amounted to SAR 52.9 million
5 August 04:28 PM Almarai acquires additional stake in Pure Breed
Riyadh – Mubasher: Almarai Company has finalized the acquisition of 37.6% of the share capital of Pure Breed Company from various shareholders. The transaction’s total cost amounted to SAR 52.9 million, according to the company’s statement to the …
The parent company's issued capital will be kept at $94.05 million
5 August 03:28 PM Arafa’s shareholders nod to merger of 3 units into parent company
Cairo – Mubasher: Arafa for Investment and Consultancies (AIVC) announced that its shareholders had approved the merger of three units into the parent company during an extraordinary general meeting (EGM). Al Arafa for Investment in Garments …