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Tuesday, 3 November 2020

Misr Clearing offloads 70% stake in Makkasa Sport to Estadat

M&A WATCH- MCDR offloads 70% stake in Makkasa Sport to gov’t-owned Estadat: Misr for Central Clearing and Depository (MCDR) has reportedly sold its 71% ownership in Makkasa Sport — which manages football team Misr Lel Makkasa SC — to state-owned Estadat Holding, according to Amwal Al Ghad. The newspaper made no mention of the transaction value. MCDR was said to have been considering two offers besides the offer from Estadat, and had rejected three others for failing to meet its EGP 80-85 mn valuation. An unnamed Kuwaiti investor and an unnamed sporting club were in the running.

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