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Monday, 23 January 2023

Goodbye GB Auto Group, hello GB Corp

AUTOMOTIVE-

GB Auto is now GB Corp: GB Auto Group has rebranded itself as GB Corp, the company said in a statement yesterday. “GB Corp aims to create one unified entity, where GB Corp’s subsidiaries — GB Auto, GB Capital, GB Logistics, GB Ventures, GB Academy and the Ghabbour Foundation for Development — will adopt the unified vision and values of the company,” the statement reads.

M&A-

Bedaya SME Fund could exit Al Shroouk Scan: Bedaya SME Fund is close to selling its 35% stake in Al Shroouk Scan and Lab in a transaction valued at EGP 24 mn, Al Mal reported, citing sources it says are in the know. A consortium comprising the medical lab’s founders is in negotiations with Bedaya to acquire its stake, which it acquired for EGP 8 mn in 2014, the sources are quoted as saying. Bedaya is managed by Al Ahly for Development and Investment and Cairo Financial Holding.

TELECOMS-

Mubasher to set up regional telecom investment fund: Mubasher Financial Services plans to establish the ‘Wasla’ fund in Bahrain to invest in telecoms infrastructure projects and the manufacture of fiber optic cables in MENA and Africa, Hapi Journal reports.

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