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Acquisitions and Mergers

ADNOC closes 50% stake acquisition of TotalEnergies Marketing Egypt

Announced in July 2022, the acquisition marks the UAE company’s entry into the Egyptian market

Bank ABC completes merger of local subsidiary and BLOM Bank Egypt

The two have merged into a single entity after receiving final regulatory approvals, including those of the Central Bank of Egypt and GAFI

Saudi Arabia’s PIF in talks to acquire state-owned United Bank

According to Bloomberg, the PIF is almost done with its due diligence on the transaction and plans to purchase the bank through its Egypt-based investment vehicle

Vodacom’s acquisition of majority stake in Vodafone Egypt reportedly complete

The company will have acquired 55% of Vodafone Egypt in a block trade transaction on the EGX last week for an estimated EGP 59.7 billion ($2.4 billion), amounting to 132 million shares

FABMISR completes Bank Audi integration, brings assets to est. EGP 187B

Completing the integration will contribute to strengthening the size of the new entity and its local presence across the country, explained FABMISR CEO Fayed