Back to the complete issue
Wednesday, 15 January 2020

Egypt’s Al Ahly Capital to acquire Pharos’ asset management for EGP 20 mn

M&A WATCH- Al Ahly Capital is planning a c. EGP 20 mn bid for Pharos Holding’s asset management and investment banking arms, Al Mal reports, citing sources familiar with the bid. The sources said that the acquisition could be completed within the coming two months. Al Ahly Capital, a National Bank of Egypt-owned investment bank, signed an agreement with Pharos last month to acquire 100% of the latter’s brokerage arm. The former said in a statement at the time that it will move soon to do the same with Pharos’ asset management and investment banking arms. This comes as Pharos is pivoting to non-banking financial services, and looking to grow its micro-financing business, Pharos CEO Elwy Taymour told us previously.

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.