Cairo - Decypha: The following is a summary of the mergers and acquisition activity in the MENA region, during the week of 10th of May 2017 to 18th of May 2017.
JadoPado
Perhaps the most famous acquisition of the week, a technology fund led by Chairman of Emaar Properties, Mohamed Alabbar, has acquired UAE-based JadoPado, an online e-commerce website.
Mannai Corp
Mannai Corporation has confirmed its decision to acquire an additional 34% in GFI Informatique, 29% will be acquired in 2017 and the remaining in 2018. The acquired shares will be from Boussard and Gavaduan Altamir, and Apax France.
Qalaa Holding
Qalaa Holdings’ subsidiaries, ASEC Cement and ASEC Cement Djelfa Offshore, sold their entire shares of ASEC Ciment Algérie (AACC) to an Algerian investor. The deal is valued at $ 60 million.
Al Borg Medical Laboratories
Al Borg Medical Laboratories, a Saudi based medical laboratory covering the entire Gulf, announced its agreement to acquire Anglo Arabian Healthcare, owned by Waha Capital. The value of the deal is yet to be announced and some terms and conditions are yet to be agreed on.
Oman ORIX
Oman ORIX Leasing has expressed its initial agreement of National Finance. The deal proposed is cash buyout in nature.
The Commercial International Bank
The CEO of Egypt’s CIB, Mahmoud Attalla, announced that the bank is in negotiations for the sale of a 10% stake in CI capital.
Cleopatra Hospital
The Egyptian Financial Supervisory Authority (EFSA) has approved Cleopatra Hospital’s acquisition of 46.32% of Cairo Specialized Hospital. The deal brings Cleopatra’s share of the hospital to 99.04%.
Dnata
dnata has reached an agreement with Lynx Holdings LP to fully acquire its AirLogistix USA cargo handling operations at George Bush Intercontinental Airport Houston (IAH) in the USA.
PICO
A Subsidiary of PICO Holding, Cherion, has acquired 50% of Sahara North Bahariya Ltd. The deal, which is valued at $83 million, gives ownership of North Bahariya Concession in the Western Desert to Cherion. The agreement was approved by Egypt’s Egyptian General Petroleum Company and Cherion has paid the full stated amount.
By Decypha Editorial Team
