M&A Brief of the Week

Alexandria National Co

The Egyptian Financial Regulatory Authority (FRA) approved the publication of the mandatory tender offer (MTO) submitted by UAE’s Zeta Investment to acquire Alexandria National Company for Financial Investment.

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Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank (ADCB) signed an agreement to acquire a portfolio of about 1,000 mortgages from Abu Dhabi Finance (ADF).

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Speed Medical Co

Speed Medical Company said that its 80.25%-owned unit Speed Hospital joined an alliance with Tawasol Holdings for Financial Investment, affiliated to Saudi Elaj Medical Group, to acquire the entire shares of Alexandria Medical Services - Alexandria New Medical Center.

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Saudi Real Estate Co

Saudi Real Estate Company (Al Akaria) has purchased the entire stake of Kaya Homes for Construction, Contracting, Tourism, Trade and Industry, in the Saudi Real Estate Construction Company (Tamear), in which it owns a 60% stake.

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Amanat Holdings

Amanat Holdings has acquired Cambridge Medical and Rehabilitation Center (CMRC) for an enterprise value of $232 million (AED 851 million) from emerging market focused private equity company TVM Capital Healthcare.

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Palm Hills Developments

Palm Hills Developments (PHD) approved the purchase of a 28.16% stake in Palm Hills Education from El Mansour and El Maghraby for Investment and Development for EGP 4.19 million.

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National Commercial Bank

The extraordinary general meeting (EGM) of the National Commercial Bank (NCB) has approved the proposed merger of the bank and Samba Financial Group through the issuance of 0.739 new NCB shares for every share in Samba.

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Fawaz Abdulaziz Alhokair Co

Fawaz Abdulaziz Alhokair Co. and Arabian Centres Company (ACC) will acquire a combined 51% stake in Vogacloset, a UK-based online fast fashion platform.

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Emaar Properties

Emaar Properties and Emaar Malls jointly announced that each of their boards of directors has voted to recommend an all-share merger to their respective shareholders.

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Jadwa REIT

Jadwa REIT Saudi Fund has signed an agreement to purchase Boulevard Riyadh, a retail and offices complex, in a SAR 320 million deal.

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Decypha Contribution Time: 04-Mar-2021 10:26 (GMT)
Decypha Last Update Time: 04-Mar-2021 10:26 (GMT)