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Another devaluation of the Egyptian pound will be necessary to reflect its true value post-IMF deal
The violations of the main shareholder will not hinder Beltone’s acquisition of Reefy and Arab Finance, says Sherif Samy
On Thursday, Beltone announced it was unable to reach an agreement with CIB to extend the deadline for the acquisition offer
The contract has not been renewed and the down payment was repaid to Beltone, says CIB
EFSA is only concerned about the violations that require reconciliation or resorting to courts, says Samy
Head of the EFSA Sherif Samy said that the authority is reviewing the documentation provided by OTMT on the transfer of ownership of a controlling stake to another shareholder, which obligates Sawiris to make a compulsory tender offer to buy the rest of the shares.
Orascom has not yet reached the reconciliation phase
The Cassation Court ruled in Commercial International Bank-Egypt’s (CIB) favour in its a legal dispute with the shareholders of CI Capital, 99.98% of whose shares the bank now owns, according to press statement on Thursday. The statement said that the judgement allows CIB-Egypt to proceed with the completion of a deal to sell CI Capital …
Businessman Naguib Sawiris insists that Tarek Amer used his position to prevent state-owned banks from funding his bid to acquire CI Capital
Sawiris applies to establish a €50m bank for SMEs in Luxembourg
Orascom Telecom Media and Technology Holding (OTMT) announced today that its management has agreed to nominate Beltone Financial Holding to purchase 100% of CI Capital.
OTMT’s intentions to acquire the investment bank were first reported in December 2015
Orascom began addressing private banks to guarantee 40% of deal worth, EGP 950m-1bn, sources say
The acquisition of CI Capital by OTMT will reflect positively on the market
OTMT presents its final bid Thursday, with a competing bid to be presented from Al Ahly Capital Sunday
Atallah asserts that the impact of the oil price crash on the country is generally negative, especially after losing $12bn in oil exports
Government should activate one-stop shop quickly to attract more local and foreign investments, says Chief Executive
By doing so, they hope to compensate for the recession in the market throughout the three years following the January 25 Revolution in 2011.
If CI Capital and Beltone merge; indicators anticipate EFG Hermes to dominate with support of its regional arm on the short term, with eyes open towards merger in a few years
Qalaa says exit will help company provide liquidity for purchasing treasury stocks
CI Capital expects two other offerings to take place this year, in addition to his company acquiring a financial advisory role for a number of acquisition and merger deals.
Investment ministry hopes to restructure business sector in preparation for tender operations on stock market, bringing them out of the red
Reducing subsidy system expenses in the 2014/2015 fiscal year (FY) budget will help drive Egypt’s economy forward, economic analysts said at the Euromoney Conference, currently being held in Cairo.. It is essential to reduce public expenses for Egypt’s economy, especially with regards to the energy situation, said Managing Director of Qalaa Holding Hisham El-Khazindar. El-Khazindar …
Atallah stated that the interim government’s main role is to target short-term remedies to deal with current economic issues to help set the base for recovery.
By Reuters CAIRO: Egypt’s Oriental Weavers, the world’s biggest machine-woven carpet maker, may report earnings growth of 33 percent in 2012 helped by easing raw material prices and increased demand, CI Capital said and upgraded the stock to “buy”. The company’s profitability was hurt over the last year due to increased raw material costs, political …
By Reuters CAIRO: Egypt’s largest steel producer Ezz Steel will benefit from the reinstatement of operating licenses for two of its plants after paying a fee, said CI Capital Research and upgraded the stock to “buy” from “hold.” In September, an Egyptian court jailed Ezz’s former chairman Ahmed Ezz for indulging in corruption and ordered …