Hassan Allam Holding (HAH) announced, on Wednesday, that its subsidiary HA Utilities Holding BV has submitted a nonbinding offer to integrate its businesses with the Egyptian Transport and Commercial Services Company (Egytrans).
The integration will take place through Egytrans acquiring a subsidiary of HA Utilities Holding BV, and will support local and international expansions in various sectors.
In the event that the offer is accepted and upon obtaining the necessary approvals, as well as fulfilling the legal and regulatory requirements, HAUtilities Holding BV will own a controlling stake in Egytrans.
The offer highlights the group’s expansion strategy in Egypt by partnerships and sector integration opportunities with promising Egyptian entities reinforcing its activities in the Egyptian and regional markets.
Amr Allam, CEO of Hassan Allam Holding, said, “This offer aims to capitalise on the investment climate in Egypt after the economic reform plan adopted by the government and the subsequent growth and positive performance indicators.”
“The Egyptian economy has become very attractive to new investments in various sectors despite the challenges facing global markets,” Allam added, “This offer emerges from the group’s strategy and efforts to expand our business offering, providing a compelling value proposition and building a unique investment and development platform for water, energy, transport & logistics, and social infrastructure that continuously contributes to enhancing communities.”
HA Utilities Holding BV, owned by Hassan Allam Holding and Tanmiya Energy BV, is an infrastructure investment and development platform focused on conventional power, renewables, and water-related opportunities. It aims to address the growing demand for infrastructure in Egypt and the region.
The company had recently announced the acquisition of Ridgewood Egypt, a leading company in water desalination, as part of its strategy to support and develop water desalination and treatment projects in Egypt.
Hassan Allam Holding is a leading group in construction, engineering, and infrastructure investment and development headquartered in Cairo, Egypt. It serves regional and global clients in the Middle East and Africa (MEA) region.