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Mergers and Acquisitions

CIB’s capital stands at EGP 14.58 billion
5 December 04:57 PM Kenya mulls CIB’s request to acquire controlling stake in Mayfair Bank
Cairo – Mubasher: The Commercial International Bank – Egypt (CIB) plans to acquire a controlling stake in one of Kenya’s smallest banks, Reuters reported on Thursday, citing the Competition Authority of Kenya.   The Kenyan regulator said that it …
Sawiris owns 74.9% of Raiffeisen Touristik Group
5 December 02:11 PM Samih Sawiris acquires Thomas Cook’s German franchise network
Cairo – Mubasher: Raiffeisen Touristik Group, majority owned by the Egyptian billionaire Samih Sawiris, has acquired the German franchise network of Thomas Cook, Handelsblatt reported.  Sawiris owns 74.9% of Raiffeisen Touristik Group which …
Centamin’s board of directors rejected the acquisition proposal
4 December 12:47 PM Egypt welcomes Endeavour’s interest in acquiring Centamin – Minister
Cairo – Mubasher: Egypt welcomes the interest of Canada's Endeavour Mining Corp. to acquire the gold miner Centamin, the country’s minister of petroleum Tarek El-Molla told Reuters.  The Canadian firm has offered 0.0846 of its own shares for each …
The transaction totals less than 1% of DP World’s NAV
4 December 10:15 AM DP World’s unit acquires 77% stake in Feedertech Group
Dubai - Mubasher: DP World said that its fully-owned subsidiary, Unifeeder, has acquired a majority stake of 77% in Feedertech Group, a Singapore-based feeder and shortsea operator. The transaction totals less than 1% of DP World’s net asset …
The ownership transfer procedures took place on 2 December
3 December 02:30 PM ICON acquires 75% of Sun Infinite Energy
Cairo – Mubasher: Industrial Engineering Company for Construction and Development (ICON) has acquired 74.99% of Sun Infinite Energy’s (SIE) capital at a value of EGP 11.24 million. The ownership transfer took place on 2 December, ICON disclosed in …
Endeavour offered 0.0846 of its own shares for each Centamin’s share
3 December 02:09 PM Centamin rejects Endeavour’s acquisition offer
Cairo – Mubasher: The board of directors of the gold miner Centamin advised its shareholders to take no action concerning an acquisition proposal from Canada’s Endeavour Mining Corp. The Canadian firm has offered 0.0846 of its own shares for each …
The four-month agreement between both firms is renewable
2 December 06:20 PM Saudi Egyptian Industrial plans to acquire Al Babtain
Riyadh – Mubasher: Al Babtain Power and Telecommunication Company announced that its subsidiary in Egypt, Al Babtain Power and Telecom Egypt, has received a letter of intent from the Saudi Egyptian Industrial Investment Company. The Saudi Egyptian …
The two firms signed a binding merger agreement in September
28 November 01:12 PM Walaa, MetLife seek GAC’s approval of merger
Riyadh – Mubasher: The Saudi General Authority for Competition (GAC) announced that Walaa Cooperative Insurance Company and MetLife AIG ANB Cooperative Insurance Company has filed for economic concentration through a merger. Both companies are …
Americana Group's offer includes the purchase of 38.6 million shares
27 November 02:55 PM Americana Group comments on FRA’s rejection of MTO
Cairo – Mubasher: Americana Group affirmed that the mandatory tender offer (MTO) it submitted for acquiring the remaining shares of the Egyptian Company for International Touristic Projects (Americana Egypt) is in line with the standards and …
Previous board meeting
27 November 02:40 PM Noor Financial signs preliminary agreement for merger
Mubasher: Noor Financial Investment has signed a preliminary agreement with its subsidiary Noor Telecommunication Company for a merger between both companies. Under the agreement, Noor Telecommunication will be merged into Noor Financial, …
Crédit Agricole CIB
26 November 06:22 PM Credit Agricole sells 6% stake in Banque Saudi Fransi
Riyadh – Mubasher: Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) announced completing the sale of a 6% stake in Banque Saudi Fransi (BSF) at a price of SAR 30 per share to RAM Holdings, an investment vehicle controlled by …
Titan Cement acquired an indirect majority stake in Alexandria Cement
26 November 05:13 PM Titan Cement ordered to submit MTO for Alexandria Portland Cement’s shares
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) has obligated Titan Cement International to submit a mandatory tender offer (MTO) to buy the remaining shares in Alexandria Portland Cement within a month. Titan Cement …
The company logged a net profit of EGP 169.9 million in nine months
25 November 03:43 PM Cleopatra Hospital likely to finalise new acquisition deal early 2020
Cairo – Mubasher: Cleopatra Hospital Co. is looking to acquire one of the largest vitro fertilization (IVF) centres in Egypt, the company’s CEO Ahmed Ezzeldin said. The transaction is expected to be finalised by the beginning of 2020, according to …
DIB’s acquisition of Noor Bank will be carried out through a strategic investment
25 November 02:03 PM UAE C.bank nods to DIB’s acquisition of Noor Bank
Dubai – Mubasher: The Central Bank of the UAE (CBUAE) has approved DIB’s proposed acquisition of Noor Bank which was submitted on 18 September 2019. The Securities and Commodities Authority’s (SCA) approval has been received on 21 November to …
KAMCO’s logo
21 November 04:34 PM CMA approvers KAMCO’s merger with Global Investment House
Mubasher: Kuwait’s Capital Markets Authority (CMA) has approved the merger between KAMCO Investment and Global Investment House. KAMCO will disclose the financial impact of the merger following the exchange of shares, according to a bourse …
The acquired properties span 10.2m square feet
21 November 02:47 PM Investcorp acquires $800m industrial properties portfolio in US
Mubasher: Leading global provider Investcorp has acquired $800 million portfolio consisting of 126 industrial properties in the US, according to a company statement released on Thursday. Spanning 10.2 million square feet, the acquired properties …
The company logged a net profit of EGP 127.4 million in nine months
21 November 01:24 PM EFIC mulls merger with Suez Company for Fertilizer Production
Cairo – Mubasher: The board of directors of the Egyptian Financial and Industrial (EFIC) decided to consider the merger with its 99.86%-owned subsidiary Suez Company for Fertilizer Production. An independent financial advisor approved by the …
Photo Archive
21 November 10:41 AM Al Mommar in talks to acquire Fingerprint Consulting
Riyadh – Mubasher: Al Mommar Information Systems (MIS) announced signing a Memorandum of Understanding (MoU) with Fingerprint Consulting Company and its partners, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday. The aim …
Al Khair National holds a 36.725% stake in Gulf Cable
20 November 09:49 AM Al Khair National to sell shares in Gulf Cable for 550 fils per share
Mubasher: Al Khair National for Stocks and Real Estate Company has accepted an offer from Al Khair Global for Buying and Selling Shares to buy a part of its stake in Gulf Cable and Electrical Industries. Al Khair National will sell 58.028 million …
The deal is expected to be completed early next year
19 November 06:31 PM Saudi competition authority permits Uber, Careem deal
Riyadh – Mubasher: The Saudi General Authority for Competition (GAC) released on Tuesday a report on the proposed acquisition by Uber to Careem. GAC found no reasons to oppose the deal, with a number of conditions for the new entity. The …
Previous board meeting
19 November 12:02 PM Noor Financial’s board approves merger with subsidiary
Mubasher: Noor Financial Investment’s board has announced its primary approval of a proposal for the merger with its subsidiary Noor Telecommunication Company, according to a bourse statement released on Tuesday. The primary approval was on …
18 November 11:16 AM Al Andalus sells stake in Hamat to Asala Holding
Riyadh – Mubasher: Al Andalus Property Company announced the sale of its entire stake in Hamat Real Estate Company, representing 33.4% of Hamat’s share capital, to Asala Holding Company for a total price of around SAR 43.93 million. The sum will …
Americana Egypt owns a 15% stake in Cairo Poultry
17 November 02:38 PM Cairo Poultry denies impact from acquisition offer for Americana Egypt
Cairo – Mubasher: Cairo Poultry denied being affected by the offer submitted by Americana Group for Food and Touristic Projects to acquire the Egyptian Company for International Touristic Projects (Americana Egypt), according to a bourse …
The deal involved the sale of 35.289 million shares
17 November 01:40 PM Ezz Steel sells subsidiary to Al Ezz Dekheila Steel for $356m
Cairo – Mubasher: Ezz Steel announced that its shares in Al Ezz Flat Steel Co (EFS) have been sold over the counter (OTC) to Al Ezz Dekheila Steel – Alexandria for $356.066 million (EGP 5.74 billion). The deal involved the sale of 35.289 million …
Financial Regulatory Authority
14 November 03:15 PM Egypt’s FRA mulls acquisition offer for Americana Egypt
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) has received a mandatory tender offering (MTO) from Americana Group for Food and Touristic Projects to acquire a 9.65% stake in the Egyptian Company for International Touristic …