Back to the complete issue
Monday, 1 October 2018

Seven reported bidders for Alex Containers stake sale

Seven bidders for Alex Containers stake sale: Seven investment banks and consortiums submitted last week their bids to quarterback the upcoming sale of an additional stake in state-owned Alexandria Containers & Cargo Handling (ACCH), unidentified sources tell Al Mal. The newspaper claims the bidders include:

  • Pharos Holding
  • Arqaam Capital
  • HC Securities
  • HSBC
  • EFG Hermes and Citibank
  • CI Capital, Credit Agricole and Emirates NBD
  • Beltone Financial and Goldman Sachs

Decision by mid-October? NI Capital, the state investment bank that is running the revived privatization program, is expected to select the winning bid “within days,” according to the sources. Amwal Al Ghad, meanwhile, counters that the decision won’t be made public until the second week of October. NI Capital had issued a tender last month to hire a manager for the stake sale. ACCH is expected to sell 30% of its shares on the EGX in November as part of the first wave of the state privatization program. The government had hired HSBC to manage the sale of shares from the Alexandria Mineral Oils Company (AMOC) and EFG Hermes to take on the Eastern Company transaction.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.