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Thursday, 16 January 2020

Deadline for HHD 10% stake + management contract bids extended until February

PRIVATIZATION WATCH- Deadline to bid for 10% stake in HHD with management rights extended until February: Heliopolis Housing & Development (HHD) has extended to 21 February the deadline for investors to submit their bids for a contract to take over the company’s management along with a 10% stake in the company, according to an EGX disclosure (pdf). It remains unclear when state-owned investment bank NI Capital will announce the selected bid. Chairman Hany El Deeb had previously said that the final contracts would be signed at the end of 1Q2020.

Who’s in the running? Eight companies have been reported to have shown interest, including SODIC and BPE Partners, who were the first to purchase the prospectus, along with EFG Hermes, Emaar Misr, and Orascom Development.

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