Today’s Top News & Analysis
Historic Egyptian Hotels deal to be led by Icon Investments alliance
Egypt's imports of Israeli gas jump to 1bn CBT/day
BTFH's subsidiary to acquire 51% stake in NSC
MACRO
Historic Egyptian Hotels deal to be led by Icon Investments alliance
Sources said that Icon Investments, a Talaat Moustafa Holding [TMGH] subsidiary is leading an alliance to finalize the Historic Egyptian Hotels deal. However, the value of the deal has not been revealed yet. (Asharq Business)
Egypt's imports of Israeli gas jump to 1bn CBT/day
Egypt's imports from Israeli gas have jumped to 1bn CBT/day through this month, for the first time since it was resumed last month. The Israeli gas imports were cut down to 350mn CBT/day on the back of the war on Gaza. (Asharq Business)
CORPORATE
BTFH's subsidiary to acquire 51% stake in NSC
Beltone Capital, a Beltone Financial Holding [BTFH] subsidiary, is acquiring a 51% stake in The National Seed Co. (NSC) for a minimum value of EGP140mn and a maximum value of EGP306mn. It is expected that the acquisition end before the end of 2023. (Company disclosure)
MARKETS PERFORMANCE
Key Dates
20-Dec-23
MCQE: Cash dividend / Payment date for a dividend of EGP0.50/share (2nd installment).
21-Dec-23
CSAG: Cash dividend / Payment date for a dividend of EGP1.39/share.
EAST: OGM / A board reconstitution.
EAST: EGM / Amending Articles No. 7 & 21 of the company's bylaws.
MPC Meeting / Determining the CBE's policy rate.
23-Dec-23
MICH: BoD meeting / Follow up on production, sales and exports.
26-Dec-23
ELEC: EGM / Discussing capital reduction & amending Articles No. 6 & 7 of the company's bylaws.
ACGC: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
27-Dec-23
EHDR: EGM / Approving increasing the issued capital & amending ArticleS No. 6 & 7 of the company's bylaws.
28-Dec-23
ABUK: Cash dividend / Payment date for a dividend of EGP3.00/share (2nd installment).
EAST: Cash dividend / Payment date for a dividend of EGP1.75/share (2nd installment).