The Ministry of Transport and the Spanish train manufacturer, Talgo, are considering establishing a new company to localise the train manufacturing industry in Egypt, and the National Egyptian Railway Industries Company (NERIC) has recently joined (...)
Azimut Egypt is preparing to launch the first investment fund in precious metals, in cooperation with Evolve Investment Holding, next February.
Ahmed Abul-Saad, managing director of Azimut Egypt, revealed that the fund is awaiting final approvals (...)
GB Auto's board of directors agreed to sell an indirect stake representing 45% of GB Lease at EGP 855m to Chimera.
GB Auto owns GB Capital for Financial Investments, which owns 100% of the Dutch company GB Lease.
Baker Tilly set the fair value of (...)
The Financial Regulatory Authority (FRA) has received a letter from Eagle Chemicals, a company specialized in the manufacturing and trade of chemicals, expressing its desire to submit a non-binding purchase offer on the shares of Pachin.
The offer (...)
B Investments will sign a put option agreement over its 6.3% stake in TotalEnergies Marketing Egypt to TotalEnergies Marketing Afrique, for $ 27.6m.
B Investments will receive additional $2.2m in the event that some of the conditions in the (...)
Finbi financial advisory is working on a fair value and feasibility study for a package of major deals in the Egyptian capital market, including the evaluation of the Damietta and Port Said container companies in preparation for offering them in the (...)
Informed sources revealed to Daily News Egypt that the National Paints Company is about to complete the due diligence examination of the Paints and Chemical Industries Company (Pachin), and it is expected that a decision on the offer will be made (...)
The Suez Canal Authority (SCA) is in the process of acquiring South Red Sea Shipyard company, which specialises in building super yachts, sources close to the deal told Daily News Egypt.
The sources added that the SCA has already completed the (...)
GB Capital for Financial Investments — a subsidiary of GB Auto — signed a definitive agreement with Chimera Investments of the UAE to sell an indirect stake representing 45% of the shares of GB Leasing for EGP 855m.
The company stated that the total (...)
CI Asset Management said in its note on New Year's Predictions, The world is grappling with yet another disruption of the normal course of business. No sooner had we moved on from the misery of a pandemic than we woke up to news of war in Europe on (...)
The Egyptian Exchange (EGX) witnessed a major breakthrough during the last trading sessions due to the increase in liquidity and the rise of its major index to record levels, exceeding the barrier of 15,500 points.
Following the International (...)
The assets sector of NI Capital — one of the National Investment Bank's companies — aims to increase the volume of assets under management during the next year to EGP 12bn, compared to the volume of assets currently amounting to EGP 10bn.
Mohamed (...)
Damietta Container & Cargo Handling Company and Port Said Container & Cargo Handling Company — which is the operator of the West Port Said Container Terminal — are preparing to offer part of their shares on the Egyptian Exchange (EGX) in the first (...)
EFG Hermes announced today that its Investment Banking Division successfully completed advisory on a $1.8bn initial public offering (IPO) of Americana Restaurants International Plc (Americana) on the Saudi Stock Exchange (Saudi Exchange) and the Abu (...)
The poultry industry in Egypt has suffered several successive crises that threaten its continuity, the latest of which was the detention of poultry feed in ports due to the foreign currency crisis and the complications of banks' letters of credit (...)
GB Auto has revealed that it sold 7.5% stake in the Dutch company, MNT Investment, to Chimera. GB Auto's stake in MNT Investment will reduce to 49.5%.
GB Auto said last November that the target shares would be sold at a value of $60m, or $71.3m if (...)
Vortex Energy, a renewable energy platform managed by the private equity arm of EFG Hermes, has invested €46m in Ignis Energy.
Sources told Daily News Egypt that Vortex Energy will invest up to €476m through its newly launched Vortex Energy IV Fund (...)
Saudi Arabia's Public Investment Fund (PIF) is in advanced talks to acquire Egypt's state-owned United Bank in a deal that could be worth about $600m, according to sources that talked to Bloomberg.
The PIF is expected to carry out the acquisition (...)
Qatar Investment Authority would complete its acquisition of 25% stake – owned by Telecom Egypt – in Vodafone Egypt by the first quarter of 2023, sources told Daily News Egypt. The deal was scheduled to be completed before the end of this year.
The (...)
Orascom Investment Holding achieved a profit of EGP 265.4m during the first nine months of this year, compared to a net loss of EGP 46m in the same period of 2021.
The company's revenues also increased to EGP 59.24m, compared to EGP (...)
Ramy El-Dokany — Chairperson of the Egyptian Exchange (EGX) — expected that trading in carbon certificates would start by the middle of next year, pointing out that the EGX is currently negotiating with a group of investors inside and outside (...)
High-level sources at e-finance for financial and digital investments revealed that the company aims to enter the Saudi market next year as part of its strategic expansion plan through a partnership with the Saudi Public Investment Fund (PIF).
The (...)
Port Said Container and Cargo Handling — the operator of the West Port Said Container Terminal — is preparing to offer part of its shares on the Egyptian Exchange (EGX) in 2023.
Informed sources told Daily News Egypt that the company plans to offer (...)
Fortescue Future Industries (FFI) plans to start production in the green hydrogen project scheduled to be launched in Egypt in 2027, and complete all stages by 2030.
Moataz Kandil, FFI President Middle East North Africa, revealed that the company is (...)
Hermes Securities Brokerage topped the list of brokerage companies on the Egyptian Exchange (EGX) in terms of trading value in the main market, including bonds and deals, during November's dealings with a turnover of EGP 8.02bn through trading (...)