Cairo - Decypha: The following is a summary of the mergers and acquisition activity in the MENA region, during the week of 27th of April 2017 to 3rd of May 2017.
Saudi Aramco
The Saudi Arabian Oil Company, known as Saudi Aramco, acquired the largest oil refinery in North America. Named the sprawling Port Arthur, the Texas-based refinery can accommodate around 600,000 barrels of oil per day.
Al Qudra Holding
UAE’s Al Qudra Holding, a real estate company, has agreed to acquire Al Rayan Investment Company. The deal is valued at AED 1 billion. The acquisition includes issuing an additional 210.4 million shares and increasing the vaue of Al Qudra’s assets to around AED 4 billion.
Gulf Commercial Bank
Iraq’s Gulf Commercial Bank (GCB) has acquired 20% of Aman for electronic payment from Egypt’s Raya Holding. The agreement has been signed, but financial transactions are yet to take place.
Ibrakom
CJ Korea Express has acquired 51% of UAE-based logistics company, Ibrakom. The deal will be completed end of May 2017.
Marka
Evolvence Knowledge has acquired from Marka its shares in Cheeky Monkeys' Management Services.
Winvest Capital for Development and Investment
Winvest Capital for Development and Investment (WCDI) announced its exit from Egypt’s Seven Sky, a food production company. A consortium of business men has purchased WCDI’s 51% share for EGP 40 million.
Barclays
The acquisition deal for Egypt’s Barclays by Morocco’s Attijariwafa has been completed. The deal is worth $494.9 million.
By Decypha Editorial Team
