Back to the complete issue
Monday, 10 August 2020

Egyptian Media Production City acquires 97.5% of Arab Hotel Company

M&A WATCH- Media Production City increases holdings in Arab Hotel Company: State-owned Egyptian Media Production City (EMPC) has acquired a 97.55% stake in the Arab Hotel Company, by purchasing the shares of five other entities, the company said in an EGX filing (pdf). EMPC bought out other state-owned entities including National Bank of Egypt, Banque Misr, Misr Insurance, Misr Life Insurance, and Arab Contractors. The filing did not disclose the value of the transaction. EMPC’s board had greenlit talks to acquire the Arab Hotel Company from Arab Contractors in July of last year. The company last bought 67% of Arab Contractors’ stake in the hotel last month.

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 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; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.