NI Capital to announce managers for Eastern Co, AMOC stake sales in October
NI Capital to announce in October who’s running Eastern Co, AMOC stake sales: State-owned investment bank NI Capital will reportedly select in October the manager for the sale of additional stakes from Eastern Company and Alexandria Minerals and Oils Company (AMOC) on the EGX, sources close to the matter told Amwal Al Ghad. The deadline for financial and technical offers for the job was yesterday, the source adds.
Background: EFG Hermes is among other several investment banks invited to take part in the tender to manage the additional stake sales from the already-listed companies, which are expected to pilot the state privatization program before the end of 2018, alongside Heliopolis for Housing and Development, Alexandria Container and Cargo Handling, and Abu Qir Fertilizers. Among those invited to tender were EFG Hermes, Pharos Holding, Beltone, HSBC, and CI Capital, among others.