Nutrien has agreed to drop its arbitration claims against a subsidiary of Misr Fertilizers Production Company (Mopco) as part of its agreement to sell its 26% stake in the company, the local press reports. The Canadian fertilizer producer said last week that it had agreed to offload its stake for USD 540 mn, which it said included the value of the shares and settlements, but a consultant at the cabinet’s Investment Contracts Dispute Settlement Committee said yesterday that the firm had agreed to drop its cases against the Egyptian Nitrogen Products Company (ENPC).

MEANWHILE- MM Group for Industry and International Trade (MTI) has purchased 49.9% of non-banking financial services company Basata Financial Holding for EGP 30 mn, according to a regulatory filing (pdf) on Sunday.

Egyptian-British entrepreneur Tamer Abdullah is seeking to increase his shares in Alexandria Medical Services Company from his current 9.8% stake which he bought last month, Al Mal reports. The report did not disclose how many shares he is aiming to purchase but said it would be done in coordination with 51% shareholder Abu Dhabi Commercial Bank.

Odin Investments has 10 days to make a new offer to acquire El Nasr Civil Works, a subsidiary of Madinet Nasr for Housing and Development (MNHD), it said in an EGX disclosure (pdf) on Sunday. The clock started yesterday MNHD was unhappy with an offer made by Odin last week for 90% of the company at EGP 11 per share, saying it was low for the company’s earnings and financial position.

CLARIFICATION– A subsidiary of Raouf Ghabbour’s GB Capital and Africa-focused private equity fund Nationbuilders Capital Partners acquired 100% of Samih Sawiris’ New City Housing and Development in a USD 50 mn transaction, according to a statement (pdf). We picked up local press reports yesterday that incorrectly said the transaction was valued at EGP 365 mn. The story has since been updated on our website.