Aldar aims to purchase 90% of SODIC’s shares, around 320.6 million shares, at a price of EGP 20 per share, totaling at around EGP 6.4 billion
EFG Hermes will be taking control over aiBank in partnership with the Financial Services & Fintech sub-fund, a sub-fund owned by the Sovereign Fund of Egypt (TSFE)
The climb reflects global and Middle East trends, with global M&A activity recording a strong rebound during H1 2021 as total deal values soared by 120%
The merger is still subject to regulatory approval and expected to conclude in Q1 2022
The MTO, submitted by Bank ABC, is for the former to purchase up to 300 million of BLOM Bank’s shares, valued at $427 million, equivalent to EGP 6.7 billion
