By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
    Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
    March 22, 2023
    Egypt aims to attract 30 million tourists in 2028: Tourism Minister
    Egypt aims to attract 30 million tourists in 2028: Tourism Minister
    March 22, 2023
    KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt
    KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt
    March 22, 2023
    CIB general assembly approves issuance of financial instruments worth $1bn 
    CIB general assembly approves issuance of financial instruments worth $1bn 
    March 22, 2023
    BSH Home Appliances to invest €50m in state-of-art factory in Cairo
    BSH Home Appliances to invest €50m in state-of-art factory in Cairo
    March 22, 2023
  • Politics
    PoliticsShow More
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
    Al Azhar University partners with Google to empower students with latest learning solutions
    Al Azhar University partners with Google to empower students with latest learning solutions
    March 22, 2023
    Irrigation Minister discusses international cooperation with UNGA President
    Irrigation Minister discusses international cooperation with UNGA President 
    March 22, 2023
    Luxor hosts conference on climate change: Shoukry
    Luxor to host conference on climate change: Shoukry
    March 22, 2023
  • Interviews
    InterviewsShow More
    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
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Maridive to decide on takeover of its subsidiary by Ancla Marina Ship
Share
Notification
Latest News
Drought caused 43,000 deaths in Somalia in 2022: UN
Drought caused 43,000 deaths in Somalia in 2022: UN 
Region Politics
Opinion| The Chinese dragon occupies America's place in the Middle East
Opinion| The Chinese dragon occupies America’s place in the Middle East
Politics Opinion World
Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
Business
Egypt aims to attract 30 million tourists in 2028: Tourism Minister
Egypt aims to attract 30 million tourists in 2028: Tourism Minister
Tourism
KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt
KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt
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 > Maridive to decide on takeover of its subsidiary by Ancla Marina Ship
Business

Maridive to decide on takeover of its subsidiary by Ancla Marina Ship

Fatma Salah
Last updated: 2022/10/16 at 10:56 PM
By Fatma Salah 2 Min Read
Share
Opinion| Will Egypt’s gas become a lifeline for Europe?
SHARE

Maridive Maritime and Petroleum Services has revealed that it received an offer to acquire 100% of its subsidiary Valtin Marine from Ancla Marina Ship.

The company added in a statement on Sunday that the company’s Board of Directors is scheduled to convene to discuss the offer, explaining that all procedural and regulatory aspects will be completed with the necessary approvals from the competent authorities.

Well-informed sources in the company told Daily News Egypt that a board meeting will be held to decide on the sale of Valtine this week, and if the offer is approved, the company will proceed with the procedures for appointing a financial adviser to evaluate the offer.

The company’s losses decreased by 50% during the first half (1H) of this year, recording $16m in losses, compared to $32.27m in 1H 2021, taking into account minority rights.

The company’s revenues also fell to $46.33m, compared to $67.19m.

Last April, Maridive Maritime and Petroleum Services obtained initial approval from creditor banks to restructure the existing balances of loans granted to the company.

The restructuring came against the backdrop of the exceptional circumstances that the company has experienced in previous years as a result of the COVID-19 pandemic, which caused Maridive to exit some contracts, in addition to delaying some customers in paying the due dates, which had a negative impact on the company’s cash flows.

You Might Also Like

Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 

Egypt aims to attract 30 million tourists in 2028: Tourism Minister

KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt

CIB general assembly approves issuance of financial instruments worth $1bn 

BSH Home Appliances to invest €50m in state-of-art factory in Cairo

TAGGED: Ancla Marina Ship, Maridive
Share this Article
Facebook Twitter Email Print
Previous Article Everest Business School raises undisclosed funding to expand its operations in MENA Everest Business School raises undisclosed funding to expand its operations in MENA
Next Article Egypt reopens Gayer-Anderson Museum after development project Egypt reopens Gayer-Anderson Museum after development project
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Drought caused 43,000 deaths in Somalia in 2022: UN
Drought caused 43,000 deaths in Somalia in 2022: UN 
Region Politics
Opinion| The Chinese dragon occupies America's place in the Middle East
Opinion| The Chinese dragon occupies America’s place in the Middle East
Politics Opinion World
Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
Business
Egypt aims to attract 30 million tourists in 2028: Tourism Minister
Egypt aims to attract 30 million tourists in 2028: Tourism Minister
Tourism
//
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?