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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.

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