M&A Brief of the Week

Arab Banking Corporation

Arab Banking Corporation (Bank ABC) is in talks with Lebanon's Blom Bank to acquire its subsidiary in Egypt.

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ADIA & PIF

Abu Dhabi Investment Authority (ADIA) and Saudi Arabia’s Public Investment Fund (PIF) are holding talks to acquire stakes in Reliance Retail, a subsidiary of Indian billionaire Mukesh Ambani’s Reliance Industries.

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Ghabbour Auto

Ghabbour Auto (GB Auto) announced that NR Investments SARL, DR Investments SARL, and KA R Investments SARL have merged into RG Investments SARL.

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Saudi Telecom Company

Saudi Telecom Company (stc) said that the tenure of the non-binding agreement previously signed with Vodafone Group to take over a 55% stake in Vodafone Egypt has ended without reaching an agreement to conclude the transaction due to misalignment with relevant parties.

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Arabian Centres Company

Arabian Centres Company sold its entire remaining shares in Al Bawarij International Development and Real Estate Investment for SAR 40.398 million.

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Speed Medical Company

The board of Speed Medical Company has approved acquiring the shares of Masr Labs for EGP 10 million.

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Bahrain and Kuwait Bank

Bahrain and Kuwait Bank (BBK) has inked a Memorandum of Understanding with Ithmaar Holding, the parent of Ithmaar Bank, for a potential acquisition of Ithmaar Bank’s Bahrain operations.

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The Saudi Pharmaceutical Industries and Medical Appliances Corp

The Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO) sold part of an equity portfolio at the fair value for SAR 482 million.

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Multiply Marketing Consultancy

Multiply Marketing Consultancy, a wholly-owned subsidiary of International Holdings Company (IHC), has acquired a stake in Yieldmo, a US digital advertising and attention analytics company.

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Saudi Agricultural and Livestock Investment Company

Saudi Agricultural and Livestock Investment Company (SALIC), owned by the Saudi Public Investment Fund (PIF), raised its stake in Brazil’s Minerva Foods to 33.83% from 25.5%, Saudi Press Agency (SPA).

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Decypha Contribution Time: 17-Sep-2020 07:53 (GMT)
Decypha Last Update Time: 17-Sep-2020 07:53 (GMT)