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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.

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