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Wednesday, 31 March 2021

Your top 5 pieces of business and economic news in March 2021

Your top 5 pieces of business and economic news in March:

  • Emirati real estate firm Aldar Properties submitted an offer to acquire a controlling stake in Sodic for EGP 18-19 per share.
  • GlaxoSmithKline has shelved plans to sell its units in Egypt and Tunisia after acquisition talks with Hikma Pharma broke down last month.
  • Banque Misr now holds 90% of CI Capital after it acquired a 65% stake in an MTO last month.
  • Consumer healthcare giant IDH could go ahead with its dual listing on the EGX within two months, sources close to the matter told the local press.
  • Foreign holdings of EGP debt hit a record high of USD 28.5 bn, overtaking the previous record set before the pandemic, according to Finance Ministry figures released 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. © 2021 Enterprise Ventures LLC.