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Thndr Claps » EGY Claps » Mergers & Acquisitions 🤝 » ADQ was serious about its stakes 🛒

ADQ was serious about its stakes 🛒

by Ziad Amin
April 12, 2022

The Clap
Abu Dhabi Holding acquired stakes in five EGX-listed companies through massive 

block trade deals that totalled $1.8 billion.

Claps Class
Block trades are bulk-sized trades.

The Deets

The stakes acquired are: 12.6% in Fawry (FWRY), 17% CIB (COMI), 32% Alexandria Container & Cargo Handling (ALCN), 20% MOPCO (MFPC), & 21.5% Abu Qir Fertilizers (ABUK). 

The deals saw the companies’ shares sold at a lower price than that of the market, except for Fawry’s.

According to Asharq, the acquired stakes belonged to Banque Misr & the National Bank of Egypt (NBE). 

Backstory
Last month, Emirati fund ADQ reportedly decided to inject $2 billion worth of investments into Egypt, including an 18% stake in CIB alongside 4 other market-listed companies. Lately, the company also planned to buy National Investment Bank-NIB’s 21.5% stake in Abu Qir Fertilizers.

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