EGX 30: 10,845 (+1.4%) weekly change, (+0.0%) YTD
Traded Value 1W Avg: EGP 495M , (-17.4%) above 90D Avg.
EGP:USD: 15.73 (+0.2%) weekly change
Cleopatra Hospitals to acquire 100% of Alameda Healthcare Group’s hospitals
Cleopatra’s Board of Directors has approved the plan to fully acquire Alameda Healthcare Group. Alameda is a UAE company that operates through its subsidiaries a number of hospitals and medical units in Egypt, including Dar El Fouad 6 of October, Dar El Fouad Nasr City, As-Salam International hospital. The transaction could value Alameda at about USD 450M – USD 500M including debt. (Zawya)
Nutrein to sell its 26% stake in MOPCO for USD 540M
Nutrien, the world’s largest provider of crop inputs and service, said it will sell its entire stake of 26% in Misr Fertilizers Production (MOPCO) to Egypt for a total gross proceeds of USD 540M. Upon closing to settle all arbitration claims it has made against the Government of Egypt and MOPCO’s affiliates. (Businesswire)
Amer Group’s buys 56-feddan land to build Porto El Minya
Amer Group signed a contract with the New Urban Communities Authority (NUCA) to purchase a 56 feddan plot of land in New Miny, on which the Porto Minya development will be constructed. The land plot was bought at EGP 388M. The group also inked a USD 38M securitized bond issuance. (Zawya)
Amazon to buy podcasting company Wondery
Amazon announced that it’s acquiring podcasting company Wondery, expanding its catalog of original audio content. The acquisition will give Amazon a stronger foothold to compete against the likes of Apple and Spotify, which have doubled down on their investments in podcasting. (CNBC)
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