Cairo - Decypha: The following is a summary of the mergers and acquisition activity in the MENA region, during the week of 20th of April 2017 to 26th of April 2017.
Mubadala
France’s Ardian, an investment firm, announced its plans to invest $2.5 billion in an equity portfolio managed by Dhabi's Mubadala Capital, Mubadala Development’s financial investment arm.
Alawwal Bank
Riyadh-based Alawwal Bank, formerly known as Saudi Hollandi, has entered merger talks with the Saudi British Bank (SABB). According to a statement by the bank the move “does not necessarily mean that the merger will take place."
Bahrain Kuwait Insurance Company
Bahrain Kuwait Insurance Company (BKIC) has announced its plans to purchase the 36.31% remaining stake of Takaful International, amounting to 22.69 million shares. The value of the acquisition is estimated at BDH 2.16 million, 95 fils per share.
Dubai Aerospace Enterprise
The Dubai Aerospace Enterprise (DAE) announced the acquisition of a 100% share of AWAS’ companies from the Canadian Pension Plan Investment Board and Terra Firma Capital Partners. The transaction is expected to be completed by September 2017. The value of the deal has not been officially disclosed.
Al Ahlia Insurance Company
The Central Bank of Bahrain (CBB) has announced its initial approval to the merger of assets between Al Ahlia Insurance Company and Solidarity Group Holding. Both companies have reached an agreement in December 2016.
Al Shams Housing
Cairo-based Al Shams Housing and Urbanization is mulling over acquiring a 10% stake in Tourism Urbanization Company.
National Company for Maize Products
Egypt’s Misr Capital Investments announced the sale of 42.96% of the National Company for Maize Products to Archer-Daniels-Midland Company.
By Decypha Editorial Team
