M&A Brief of the Week

El Kahera El Watania Investment

The ordinary general meeting of El Kahera El Watania Investment agreed to enter into commutative contracts with the National Company for Trading and Development (INTED).

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First Abu Dhabi Bank, Egypt

First Abu Dhabi Bank, Egypt, is expected to complete the full integration of operations and systems with Bank Audi's unit in Egypt in the third week of next October.

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Public Investment Fund

Saudi Arabia’s Public Investment Fund (PIF) sealed a non-binding term sheet with Seera Group Holding to acquire 30% equity in the latter’s fully-owned subsidiary Almosafer Company for Travel and Tourism in exchange for up to SAR 1.55 billion.

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AD Ports Group

AD Ports Group completed the acquisition of a 70% equity stake in Transmar International Shipping Company (Transmar) and Transcargo International (TCI) for AED 514 million ($140 million).

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ADQ

ADQ, an Abu Dhabi-based investment and holding company, entered into an agreement to monetise an 8.60% equity in Abu Dhabi National Energy Company (TAQA).

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Target for Real Estate Investment

Target for Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development has sold 4.26 million of its shares in Real Estate Egyptian Consortium for an average price of EGP 1.33 per share.

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Ekuity

Ekuity B.V. bought 53.76 million shares in Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) for a total value of EGP 159.52 million, equivalent to an average share price of EGP 2.96.

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Rowad Tourism

Rowad Tourism announced purchasing 204,000 shares in Lecico Egypt for a total value of EGP 1.97 million or an average price of EGP 9.69 per share. 

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Decypha Contribution Time: 15-Sep-2022 17:09 (GMT)
Decypha Last Update Time: 15-Sep-2022 17:09 (GMT)