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Thursday, 5 December 2019

Mystery company Estadat takes over Presentation Sports

M&A WATCH- Mystery company Estadat takes over Presentation Sports: Newly-founded Estadat Holding has acquired 51% of Presentation Sports, which owns the rights to Al Ahly TV, according to a company statement. The transaction, for which no value was disclosed, is one of a series of “big surprises,” Estadat said in a separate statement. The company also signed an agreement with Al Ahly yesterday granting the sporting club the right to use Al Salam Stadium for 25 years. Estadat’s origin story is unclear. Its name came up in the local press only once before yesterday’s news, when it reportedly signed a EGP 2 bn agreement with the Youth and Sports Ministry to “manage and develop” 15 ministry affiliated football stadiums.

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