Back to the complete issue
Sunday, 22 December 2019

Arkan Developers joins HHD stake sale race

Arkan Developers joins HHD stake sale race: Arkan Developers has joined the list of companies competing to acquire management rights for Heliopolis Housing & Development (HHD) along with a 10% stake in the company, sources told the local press. Arkan joins Palm Hills, SODIC, and BPE Partners in the competition, with the door still open until 14 January for interested companies to make their bids. State-owned investment bank NI Capital will announce the winning bid by the end of January, Public Enterprises Minister Hisham Tawfik told us earlier.

Bids to advise on secondary offering: EFG Hermes, CI Capital, and Arqaam Capital are competing for a lead manager role for the 15% stake sale on the EGX. The winning firm will be announced within the coming two weeks. Zaki Hashem & Partners, Shalakany Law Office, and Baker & McKenzie are competing for the legal advisor role.

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.