Merger & Acquisition

Arab Finance - EFG Hermes’ board OKs EGP 973M capital increase

ArabFinance: EFG Hermes Holding’s (HRHO) board of directors has approved increasing issued capital by EGP 973.07 million through the distribution of 1-for-5 bonus shares, according to a filing to the Egyptian Exchange (EGX) on Thursday.

Accordingly, the company’s issued capital shall increase to EGP 5.838 billion from EGP 4.865 billion.

In 2021, EFG Hermes generated revenues of EGP 6.1 billion, rising by 12% year-on-year (YoY) to surpass the EGP 6 billion mark for the first time.

Listed on bo

Arab Finance - OIH's shareholders approve horizontal demerger

ArabFinance: Orascom Investment Holding’s (OIH) the extraordinary general meeting approved the restructuring alternative by virtue of which a horizontal demerger, according to OIH’s October 20th statement the Egyptian Exchange.

The demerger will take place on the company's book value and according to OIH's 2019 financial statements, resulting in having two companies.

The demerged company, OIH, will remain existing while maintaining all the investments it holds in its nine subsidiaries.

OIH an

Bank ABC Egypt completes its merger with BLOM bank

Bank ABC has completed the legal merger of its two Egyptian subsidiaries BLOM Bank and Bank ABC. The two banks have now become a single legal entity after receiving final regulatory approvals, including those of the Central Bank of Egypt and the General Authority for Investment and Free Zones (GAFI).

This follows Bank ABC’s acquisition of a 99.5% stake in BLOM Bank Egypt in August last year. The two banks will continue to operate a normal service while work continues to fully integrate their pr

Mansour retail, Ibnsina, Multi-Apex announce 2021 investment plans + lots of debt news

We have a smattering of investment and debt news that may be relevant to your industry, depending on where you hang your hat during the nine to five:

Ibnsina Pharma is planning to invest EGP 180 mn in 2021 to set up new distribution hubs and improve its tech capabilities, IR manager Mohamed Shawky tells Al Mal. The pharma distributor plans to grow its network, which currently spans 63 branches, and its portfolio of 9.5k products. It also wants to begin accepting e-payments from pharmacists and

Alstom completes acquisition of Bombardier Transportation

French rolling stock manufacturer Alstom has completed its previously announced acquisition of Bombardier’s rail business.

The deal concludes nearly a year after Bombardier and key shareholder Caisse de dépôt et placement du Québec (CDPQ) signed a memorandum of understanding (MoU) with Alstom for the divestiture of Bombardier Transportation.

A revised agreement, which reduced the price terms, was signed in September 2020.

At completion, the value of the deal was established at €5.5bn, at the

Suez Cement approves Helwan Cement merger, to sell up to 5% of Tourah Cement

The Suez Cement Company gave a preliminary nod yesterday to merging the Helwan Cement Company’s operations into its own, according to an EGX filing (pdf). The company will be working on determining the legal and financial framework and setting a timeline for the transaction before bringing the matter to the general assembly for a vote. The company also plans to sell up to 5% of Tourah Cement. Details on the size of either transaction have not yet emerged.

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