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Thursday, 15 March 2018

EBRD looking to acquire non-controlling stake in Wadi Degla Holding?

M&A WATCH- EBRD looking to acquire non-controlling stake in Wadi Degla Holding. The European Bank for Reconstruction and Development (EBRD) is looking to acquire a non-controlling stake in Wadi Degla Holding Company sometime during 1H2018, unidentified sources tell Al Borsa. Wadi Degla had reportedly been fielding offers from local investors, but stopped negotiations for reasons that remain unclear. The transaction would take the form of both a share sale by existing investors and a subscription to a capital increase by EBRD as part of Wadi Degla’s plans to list on the EGX in the future, the newspaper reports. Al Tamimi & Co is said to be legal advisor to Wadi Degla, while White & Case is acting as the EBRD’s legal advisor.

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