Today’s Top News & Analysis
Romanian wheat offered lowest at GASC tender
Oil prices slipped on China’s demand worries
Maridive receives another offer to acquire one of its subsidiaries
Number of Gulf funds captured a stake in CIRA
Tanmeyah and Paytabs formed a strategic partnership
Banque Misr signs EGP750mn loan deal with Mountain View
MACRO
Romanian wheat offered lowest at GASC tender
The lowest offer presented at an Egyptian state purchasing tender for wheat on Monday was USD356.45/ton for 60,000 tons of Romanian wheat on a free-on-board basis, traders said. (Reuters)
Oil prices slipped on China’s demand worries
Oil prices fell on Tuesday as recession concerns and worsening COVID-19 outbreaks in China sparked fears of lower fuel demand, outweighing supply worries. (Reuters)
CORPORATE
Maridive receives another offer to acquire one of its subsidiaries
Maridive and Oil Services [MOIL] received a second offer to acquire a 100% stake in its subsidiary, Valentine Maritime, from Al Gihaz Holding. We note that MOIL now has two offers to acquire 100% stake in Valentine Maritime. The other being from Ancla Marine Ship Management. On the other hand, MOIL signed an agreement to restructure USD219mn of long-term debt into two tranches, the first of which ends by 2028, worth USD110mn. (Al-Mal: 1, 2)
Number of Gulf funds captured a stake in CIRA
Number of GCC based funds, including Public Investments Fund (PIF), have captured a 15% stake in CIRA Education [CIRA], according to news sources. (Al-Mal)
Tanmeyah and Paytabs formed a strategic partnership
Tanmeyah and Paytabs, both subsidiaries of EFG Hermes Holding [HRHO], formed a strategic partnership to digitize the collection process provided by Tanmenyah through PayTabs' payment gateway. (Mubasaher)
Banque Misr signs EGP750mn loan deal with Mountain View
Banque Misr has signed a long-term loan contract worth EGP750mn with Mountain View Developments. The financing aims to fund part of the investment value of the “Mountain View 4” project and speed up the project execution pace. (Mubasher)
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