• Monday, 27 February 2023

    MNHD earnings surge in 2022 on record sales, GB Auto net income up on MNT stake sale

    Record sales for MNHD in 2022: Madinet Nasr Housing and Development’s (MNHD) net income more than doubled in 2022 on the back of a surge in revenues, the company said in its earnings release (pdf) yesterday. Net income surged 165%...
  • Sunday, 6 November 2022

    MNHD income more than doubles in 9M 2022 + CIB’s bottomline rises 16% in 3Q 2022

    Madinet Nasr Housing and Development’s (MNHD) net income was up 112% to record EGP 545 mn in the first nine months of 2022, according to the company’s earnings release (pdf). Revenues were up 129% to EGP 3.0 bn for the...
  • Thursday, 22 September 2022

    SODIC kills bid for MNHD

    SODIC is no longer interested in acquiring MNHD: SODIC has called off its takeover bid for Madinet Nasr Housing and Development (MNHD) and is currently reviewing other alternatives, our friend SODIC Managing Director Magued Sherif told Bloomberg Asharq.MNHD shareholders rejected...
  • Tuesday, 2 August 2022

    Aldar could invest USD 1.5 bn in Egypt, Saudi + the UAE over the next year

    Emirati real estate giant Aldar Properties still sees potential to invest another USD 1.5 bn in Egypt, Saudi Arabia and the UAE over the next 6-12 months despite a higher interest rate environment, CEO Talal Al Dhiyebi told Bloomberg TV...
  • Wednesday, 20 July 2022

    SODIC will not revise its MNHD offer upwards without DD

    SODIC won’t revise its MNHD offer upwards without DD or more information: Upmarket real estate developer SODIC has said it will not revise its offer price for up to 100% of Madinet Nasr Housing and Development (MNHD) without getting the...
  • Tuesday, 19 July 2022

    THIS EVENING: SODIC facing a dead end in MNHD acquisition bid? Plus: Chimera closes in on Beltone

    Happy hump day, friends. It’s a relatively busy news day here on the home front, with that M&A boomlet we signposted this morning still keeping up pace.PSA- We’re not getting (yet another) long weekend: Saturday will be a national holiday...
  • Tuesday, 19 July 2022

    MNHD wants SODIC to cough up a lot more

    SODIC might have to up its offer 4x if it wants MNHD: Madinet Nasr for Housing and Development’s (MNHD) portfolio of undeveloped land is worth between 3-4 times more than what SODIC wants to pay for the company, the real...
  • Monday, 18 July 2022

    MNHD wants SODIC to bump up its offer price

    MNHD says the price isn’t right on SODIC’s acquisition bid: Madinet Nasr for Housing and Development (MNHD) has rejected a takeover bid by SODIC and called on the company to bump up its offer. SODIC before Eid Al Adha offered...
  • Monday, 4 July 2022

    Expedition Investments submits bid for 34% stake in Domty

    Expedition Investments has submitted an official bid to acquire a 34% stake in cheesemaker Domty, the Financial Regulatory Authority (FRA) said in a disclosure to the EGX (pdf) yesterday. The consortium has offered to purchase up to 96.2 mn shares...

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