Back to the complete issue
Thursday, 13 August 2020

El Nasr gives Odin Investments green light to start due diligence

M&A WATCH- El Nasr gives Odin Investments green light to start due diligence: El Nasr Civil Works’ board of directors has given Odin Investments approval to begin due diligence ahead of a potential acquisition of a 90% stake in the company, El Nasr said in an EGX disclosure (pdf). Odin, along with other unidentified inventors, expressed interest in the acquisition last week, and received approval from majority shareholder Madinet Nasr Housing & Development (MNHD) to begin due diligence soon after. MNHD owns a 52.5% stake in El Nasr, while the Holding Company for Construction & Development holds a 19.3% stake. El Nasr’s workers’ union holds 5% and the remaining shares are listed on the EGX.

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; 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.