By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Japan's Nikkei ends higher, gains capped amid continued concerns over global financial crisis
    Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis
    March 27, 2023
    European Commission VP visits Egypt to discuss education, mobility, and migration issues
    European Commission VP visits Egypt to discuss education, mobility, and migration issues
    March 27, 2023
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
    Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
    March 27, 2023
    Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
    Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
    March 27, 2023
  • Politics
    PoliticsShow More
    Germany has delivered Leopard 2 tanks to Ukraine: Scholz
    Ukraine gets first batch of Leopard 2 tanks from Germany
    March 28, 2023
    China’s president Xi met with the King of Saudi Arabia Salman bin Abdulaziz Al-Saud in 2017. Reuters/Alamy
    China’s latest diplomatic move will extend its trade, energy, financial and maritime power
    March 27, 2023
    Saudi Arabia, to the surprise of many, chose China to broker its deal with Iran in March 2023. Chinese Foreign Ministry/Anadolu Agency via Getty Image
    As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy – and recent deals with China, Iran and Russia fit this strategy
    March 27, 2023
    Mass Israel protests after Netanyahu fires defence minister
    Israeli PM calls for calm amid turmoil over government’s judicial overhaul
    March 27, 2023
    Somalia says army kills over 3,000 Al-Shabab militants in 6 months
    Somalia says army kills over 3,000 Al-Shabab militants in 6 months
    March 27, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Adsero acts as advisor to several deals in pharmaceuticals, education, logistics, and finance
Share
Notification
Latest News
Germany has delivered Leopard 2 tanks to Ukraine: Scholz
Ukraine gets first batch of Leopard 2 tanks from Germany
Politics
China’s president Xi met with the King of Saudi Arabia Salman bin Abdulaziz Al-Saud in 2017. Reuters/Alamy
China’s latest diplomatic move will extend its trade, energy, financial and maritime power
Opinion Politics World
Saudi Arabia, to the surprise of many, chose China to broker its deal with Iran in March 2023. Chinese Foreign Ministry/Anadolu Agency via Getty Image
As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy – and recent deals with China, Iran and Russia fit this strategy
Opinion Politics
Japan's Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Stock Market
Mass Israel protests after Netanyahu fires defence minister
Israeli PM calls for calm amid turmoil over government’s judicial overhaul
Politics
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 > Adsero acts as advisor to several deals in pharmaceuticals, education, logistics, and finance
Business

Adsero acts as advisor to several deals in pharmaceuticals, education, logistics, and finance

Fatma Salah
Last updated: 2022/09/20 at 3:51 PM
By Fatma Salah 7 Min Read
Share
Adsero acts as advisor to several deals in pharmaceuticals, education, logistics, and finance
SHARE

The Egyptian market has witnessed a strong momentum in the activity of mergers and acquisitions recently, after the entry of Gulf sovereign funds to acquire stakes in companies listed on the Egyptian Exchange.

Ahmed Abdelgawad, one of the founding partners of ADSERO – Ragy Soliman & Partners law firm, said that the merger and acquisition activity in the Egyptian market is dependent on the exchange rate of the US dollar against the Egyptianpound, pointing out that the market is awaiting the final evaluation of the dollar against the pound to re-evaluate the assets.

He expected that the slight increase in the dollar price would not affect the valuations of the merger or acquisition deals, but in the case of the total flotation of the Egyptian pound, it would require a reassessment of assets to implement the deals.

He pointed out that more than 70% of merger and acquisition deals in the Egyptian market are based on Gulf funds and their purchase in state-owned assets, and they are currently the most active in the Egyptian market.

Abdelgawad added that the state’s reaching an agreement on the IMF loan is linked to an increase in the role of the private sector in the economy, which is one of the main reasons for the emergence of the state ownership document for partnership with the private sector, stressing the need to work on implementing the document during the coming period.

Regarding government-run IPOs, he believes that the success of the offerings relies on the size of the offering that must range between $80m to $100m, which means that the size of the company must be more than $200m, which is not widely available in the Egyptian market, wondering how many companies in Egypt are worth $200m.

He stressed that the culture of expansion through financial market proposals is not in the culture of most local investors.

The legal office is working on a number of deals in the sector, most notably two deals, one of which is for education services, related to the educational process, stressing that it is still in the initial stages.

In addition, the office is in the process of consulting a group of investors on establishing a new school in West Cairo, and it is still in the initial stages.

He added that the office is also managing a number of logistics sector deals after closing the recent deal for Abu Dhabi Ports’ acquisition of Transmar, as well as establishing two new companies for foreign investors in the logistics sector related to warehousing operations in partnership with local investors in the sector, provided that the locals take over the administrative operations.

He stressed that investors are moving strongly towards the renewable energy sector, which indicates the need for a regulatory framework for it, as a first step, in addition to overcoming the problem of pricing globally and locally, given that the pricing mechanisms are not clear, whether globally or locally.

He added that Egypt is qualified to assume a leadership role in this sector, especially since it has many renewable energy sources, as well as favourable opportunities at the present time to turn into the energy gateway to Europe after Russia announced the suspension of gas exports to Europe, which gives Egypt a golden opportunity to become the main source of energy in Europe, which gives it stronger political weight in that case.

The office is working on a deal for one of the Gulf funds, without adding further details.

Ibrahim ElGengehy
Ibrahim ElGengehy

Ibrahim ElGengehy, Counsel at ADSERO, said that Egypt is in the safety zone for investors intending to enter the Egyptian market, especially Qatari investments that plan to acquire stakes in listed companies, pointing out that in the event of the exchange rate being liberalized, the revaluation will be carried out and the assets will become less expensive, which leads to speed execution of deals.

He pointed out that the Egyptian market is very attractive in mergers and acquisitions, as it ranked second in the list of the most active markets in acquisitions.

He revealed that the office is working to establish two investment funds in the field of non-bank financial activities for local institutions, as well as two acquisition deals in the sector, one of which is the sale of 45% of GB Auto to Chimera Capital, as well as the sale of a share of Halan to Chimera, too.

He pointed out that the office is preparing to launch funds in non-banking financial activities, and procedures are still in the initial stages for the benefit of local investors.

He stressed the attractiveness of the health, education, and food sectors in the Egyptian market, as well as the logistics and transportation sector.

He explained that the office is currently managing about 4 deals in the pharmaceutical sector, one for the government, and the rest for the private sector, of various sizes, one of which is worth EGP 300m and the other exceeds EGP 1bn, expecting them to be completed before the end of this year.

In a related context, it is believed that the current period is not similar to the period before the flotation in 2016, in terms of investment appetite for mergers and acquisitions deals.

He believes that Egypt should benefit from its leading geographical position in the African continent by increasing its exports to Africa during the coming period.

 

You Might Also Like

Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis

European Commission VP visits Egypt to discuss education, mobility, and migration issues

Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun

Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export

Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management

TAGGED: Adsero, education, logistics, Pharmaceuticals
Share this Article
Facebook Twitter Email Print
Previous Article Klickit adds 122 private, international schools to its digital payment platform Klickit adds 122 private, international schools to its digital payment platform
Next Article Red Sea Film Festival aims to support Saudi youth, cinema: Mohammed Al-Turki Red Sea Film Festival aims to support Saudi youth, cinema: Mohammed Al-Turki
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Germany has delivered Leopard 2 tanks to Ukraine: Scholz
Ukraine gets first batch of Leopard 2 tanks from Germany
Politics
China’s president Xi met with the King of Saudi Arabia Salman bin Abdulaziz Al-Saud in 2017. Reuters/Alamy
China’s latest diplomatic move will extend its trade, energy, financial and maritime power
Opinion Politics World
Saudi Arabia, to the surprise of many, chose China to broker its deal with Iran in March 2023. Chinese Foreign Ministry/Anadolu Agency via Getty Image
As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy – and recent deals with China, Iran and Russia fit this strategy
Opinion Politics
Japan's Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Stock Market
//
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?