Cairo - Decypha: The following is a summary of the mergers and acquisition activity in the MENA region, during the week of 18th of May 2017 to 25th of May 2017.
MENA Real Estate
Kuwait based MENA Real Estate Company announced that it will raise its capital by 48.49% once it fully acquires Rasmal Holding Company. Rasmal had stated its initial approval of the acquisition on the 7th of March 2017.
Boubyan Petrochemical
Kuwait based Boubyan Petrochemical acquired 130.85 million shares of Educational Holding. The deal is valued at KWD 39.25 million.
Specialities Group Holding
Kuwaiti for Oil Fields Processing Co has informed Specialities Group Holding (SPEC) that it will not acquire Equipment Corporation. Previously both parties had signed an initial agreement on the 22nd of March for the full acquisition of SPEC’s 40.85 million shares.
GII Tech Ventures Fund
The GII Tech Ventures Fund, specialized in technology investment, announced its acquisition of 11% of Canada’s Nymi Inc.
Dabur International
UAE’s Dabur International has acquired South African personal care company South D and A cosmetics as well as Atlanta Body & Health Products.
Al Ahlia Insurance
Al Ahlia Insurance Company has announced that Solidarity Group has initially approved their merger offer.
Middle East Venture Partners (MEVP)
Mohamed Alabbar has acquired a significant stake in the Middle East Venture Partners (MEVP). The move comes part of his efforts to create a leading venture capital investment platform in the region,.
National Company for Glass Industries
The National Company for Glass Industries (Zoujaj) has increased its capital in preparation for the acquisition of 10% of the Saudi Guardian and Guardian RAK.
By Decypha Editorial Team
