Back to the complete issue
Tuesday, 26 November 2019

Al Madar, SEII consortium to decide on Emisal bid this week

M&A WATCH- Al Madar, SEII consortium to decide on Emisal bid this week: A consortium of Kuwait’s Al Madar Finance & Investment Company and the Saudi Egyptian Industrial Investment Company (SEII) will decide whether to bid once more for a stake in state-owned Emisal Salts by the end of the week, sources told the local press. The consortium will gauge whether major shareholders — other than the National Bank of Egypt (NBE), which is reportedly the only one willing to offload its 49.8% stake — are still planning to exit. It would submit a starting offer of EGP 700 mn, lower than the recent EGP 1 bn valuation but negotiable upwards. The consortium announced last week that it is considering making another move for the company after Egypt Kuwait Holding dropped its bid.

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.