TMG Saudi signed a preliminary deal for a second Saudi project that would be about twice the size of Benan City
· Egyptian market news · UNIT
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In another area of investment,
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Riyadh’s newest address
TMG Saudi embarks on new mixed-use project in the Kingdom: bourse filing (pdf)
Why it matters: twice the size of Benan City
IN CONTEXT- group’s real estate revenues an earlier entertainment JV two mixed-use projects USD 10 bn, 43k-unit megaproject
All in favor, Tamweely in hand
E-finance received shareholders’ approval to buy 99.32% of MSME lender Tamweely Financial Services at an extraordinary general meeting late last week the meeting minutes (pdf)
Turin gets paid three ways:
REFRESHER- as much as EGP 4.8 bn 71% above the EGP 2.8 bn
Nassef Sawiris’ take-private of OCI Global is now the gate the Orascom merger has to clear. statement (pdf) 30 December long-stop called an EGM for 30 October OCI Nitrogen sale
NNS has been quietly shrinking OCI’s freefloat ahead of the tender. July (pdf) August (pdf)
REFRESHER- froze the OCI-side vote approved the transaction Value8 asked the same court
More institutional funding ahead
The International Finance Corporation (IFC) is mulling an equity investment of up to USD 20 mn in local proptech platform Nawy disclosure
Lining up institutional investments: raised EGP 633 mn
WEATHER- Another light summer day ahead in Cairo today
It’s similarly nice in Alexandria
The big story abroad
Major US banks project that the federal government will issue as much as USD 1 tn in short-term Treasury bills in the coming year
On the geopolitical front: seeking to slap
Takeover of Aussie developer falls short: has turned down
*** It’s Blackboard day: