By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    June 1, 2023
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    June 1, 2023
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    June 1, 2023
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    June 1, 2023
    Egypt's new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    Egypt’s new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    June 1, 2023
  • Politics
    PoliticsShow More
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    June 1, 2023
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    June 1, 2023
    Egypt and France discuss joint cooperation in the health sector
    Egypt and France discuss joint cooperation in the health sector 
    June 1, 2023
    AU praises Egypt's role in achieving sustainable peace in Africa despite challenges
    AU praises Egypt’s role in achieving sustainable peace in Africa despite challenges
    May 31, 2023
    Opinion| Russia and China promote stability in the Middle East after the US withdrawal from the region
    Opinion| Russia and China promote stability in the Middle East after the US withdrawal from the region
    May 31, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Pioneers Holding considers new acquisitions in 2015
Share
Notification
Latest News
Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Business
Egypt hosts InnoXera Summit on education in artificial intelligenceage
Egypt hosts InnoXera Summit on education in artificial intelligenceage
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Pioneers Holding considers new acquisitions in 2015
Business

Pioneers Holding considers new acquisitions in 2015

Menna Samir
Last updated: 2015/03/10 at 5:43 PM
By Menna Samir 4 Min Read
Share
Three new potential acquisitions in the sectors of food and real estate are expected to be completed this year by Pioneer Holdings, says Walid Zaki (Photo courtesy of Pioneers Holding website)
SHARE
Three new potential acquisitions in the sectors of food and real estate are expected to be completed this year by Pioneer Holdings, says Walid Zaki (Photo courtesy of Pioneers Holding website)
Three new potential acquisitions in the sectors of food and real estate are expected to be completed this year by Pioneer Holdings, says Walid Zaki
(Photo courtesy of Pioneers Holding website)

Pioneers Holding for Financial Investments SAE is studying a number of new deals and acquisitions for 2015, Walid Zaki, Chairman of the Board of Directors said in a statement, Tuesday.

Three new potential acquisitions in the sectors of food and real estate are expected to be completed this year, Zaki added.

The comment comes after the company purchased a 52% stake in the Arab Dairy Products Company SAE, totalling approximately 3.5m shares, according to a Monday statement from Pharos Holding Company.

The transaction was concluded by Pharos that agreed to sell to the highest bidder, which leads a full service investment bank based in Cairo.

On 2 March, it was announced that Pioneers Holding won the bid to acquire the dairy company, the percentage of shares acquired however were yet to be revealed. The Egyptian Stock Exchange announced that it will prolong the validity of the declared purchase until 11 March.

Several international and domestic companies aside from Pioneer Holding have attempted to gain a slice of the Arab Dairy cake, with competitors including: Lactalis’s Al-Nour Company; Danish Arla Foods; Indian company Paras Dairy; and Saudi Arabia’s Arrow Food Distribution.

The last round, however, included only Al-Nour and Pioneers, with the former’s offer at EGP 71.00 per share, and the latter offering at EGP 71.11 per share.

The deal was sealed “following a period of 60 working days of public bidding via mandatory tender offers on Arab Dairy”. The company had been listed in the Egyptian Stock Exchange (EGX) for several months, the statement highlighted.

Pioneers Holding already had a 16.73% stake in Arab Dairy. The statement added that “the transaction values 100% of Arab Dairy’s shares at an equity value of EGP 426.7m”, with an enterprise worth of about EGP 601m.

Earlier this month, Pioneers Holding approved a capital increase of EGP 3bn ($393m), planning to issue 170m shares at EGP 17.63 per share.

Arab Dairy bids started in December 2014. The company started production in Egypt in 1990, and currently exports to countries across the Middle East. It registered a loss of EGP 24m in the first nine months of 2014, according to its statements.

Pioneers Holding, which specialises in brokerage services and operates in Egypt, the UAE, and Bahrain, offers market research and investment banking for retail and institutional clients.

In 2013, the company registered a 37% increase in net profits, marking EGP 358m ($51m) in 2013 compared to EGP 260.5m in the previous year.

The Egyptian Stock Exchange has been witnessing some activity since the start of 2015, as on 4 March, the Listing Committee of (EGX) approved Emaar Properties PJSC and Orascom Construction (OC) EGX listings. Capitals amounted to $878m and $105m, respectively, the biggest listing operations on the EGX for almost five years.

In January 2015, New York stock market listed firm Kellogg’s acquired 85.93% stakes of Egypt’s main producer of biscuits and cakes, Bisco Misr, equivalent to EGP 9.8m.

You Might Also Like

Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone

Egypt, GIZ sign agreement of €8m to support e-government, innovation in management

Egypt hosts InnoXera Summit on education in artificial intelligenceage

Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman

Egypt’s new membership in New Development Bank enhances South-South cooperation: Al-Mashat

TAGGED: bid, Bisco Misr, Daily News, DNE, EGX, egyptian stock exchange, Kellogg’s, Pharos Holding, Pioneers Holding, The daily News Egypt
Share this Article
Facebook Twitter Email Print
Previous Article Inflation rises to 10.7% in February
Next Article 30 South Korean officials, businessmen to attend Economic Summit
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?