Week ending January 2, 2021

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 

Local Pick-up

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)  

Global Pick-up

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)

Market wrap up

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Weekly Thunderstrike!

Global tech’s top seven companies added USD 3.4 trillion in value in 2020