DUBAI, UAE: Dubai Investments PJSC (DIC) has bought an additional 15.19% shares of National General Insurance Company PJSC (NGI) from Emirates NBD Bank PJSC. The aggregate ownership of Dubai Investments PJSC (DIC) has now reached 45.18%, following the acquisition of 21.53% acquired through DFM’s direct deal mechanism during the beginning of Q2 2021, and the existing shares held by…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Bahrain Bourse adopts Global Industry Classification Standard (GICS) for listed companies
MANAMA, BAHRAIN: Bahrain Bourse will adopt the Global Industry Classification Standard (GICS) for listed companies effective as of 11th July 2021, a news release said. This is in line with Bahrain Bourse’s strategy to enhance transparency and efficiency in Bahrain’s capital market and to meet best international practices. The industrial re-classification aims to establish alignment…
GFH acquires US based student housing portfolio
MANAMA, BAHRAIN: GFH Financial Group has signed to acquire a $100 million student housing portfolio affiliated to top rated universities located in the United States, a news release said. The acquisition is in partnership with Student Quarters, an Atlanta based specialist asset manager, who is the sixth largest purchaser of student housing assets in the…
DP World acquires Imperial Logistics for $890 million
DUBAI, UAE: DP World has entered into a transaction implementation agreement regarding cash offer of ZAR66 per share to acquire all outstanding shares of JSE listed Imperial Logistics, implying an equity consideration of c.ZAR 12.7bn (c.USD890mn). This offer represents a premium of 39.5% to the Imperial’s share price as of 7th July 2021 and a 34.2% premium to the…
DP World acquires syncreon for an enterprise value of $1.2 billion
DUBAI, UAE: DP World announced the acquisition of 100 per cent of syncreon for an enterprise value of $1.2 billion. This transaction is subject to customary completion conditions and is expected to close in 2H2021. syncreon is a US based global logistics provider that specializes in the design and operation of complex supply chain solutions…
Shelf Drilling gets Total E&P Nigeria contract for the Baltic
DUBAI, UAE: Shelf Drilling Ltd. has secured a contract for the Baltic jack-up rig with Total E&P Nigeria Limited for operations offshore Nigeria, a news release said. The contract duration is for five wells – estimated to be 380 days, plus additional option period, and is expected to commence in June 2021. Shelf Drilling is…
GFH Financial buys FedEx logistics facility in Ohio for $100 million
MANAMA, BAHRAIN: GFH Financial Group (GFH) has bought a US-based warehousing and distribution logistics facility situated in Ohio and fully leased to FedEx Inc. in a transaction valued at approximately US$100 million. This is part of GFH’s logistics and industrial sector investment theme, focusing on the acquisition of high quality logistics assets in key distribution…
Emirates expands operations across its network to serve strong summer demand
DUBAI, UAE: Emirates is ramping up its operations and expanding services across its network to meet strong leisure travel demand over the summer, as entry restrictions ease for travelers, a news release said. The airline has been gradually and safely rebuilding its route network and advancing its strategy to optimize its presence in key markets…
TotalEnergies with Qatar Petroleum win two new shallow water exploration licenses
PARIS, FRANCE: TotalEnergies and its partner Qatar Petroleum have been awarded Block 6 and Block 8 in the Suriname SHO Bid Round 2020/2021, a news release said. TotalEnergies shall operate these blocks, situated in shallow water with depths between 30 meters and 50 meters, and adjacent to the TotalEnergies operated Block 58, where 4 significant…
Bedaya Mortgage Finance launches Egypt’s first non-bank mortgage online platform
CAIRO, EGYPT: Bedaya Mortgage Finance Co., Egypt’s first non-bank online mortgage provider, has launched Egypt’s first non-bank mortgage finance mobile application and online platform, which will allow users to apply for one of Bedaya’s numerous mortgage finance offerings seamlessly and rapidly. Through the application, users can calculate the expected cost of their mortgage, upload documents…
Bahrain Bourse collaborates with Oxford Business Group
MANAMA, BAHRAIN: Bahrain Bourse (BHB) has announced collaboration with Oxford Business Group (OBG) to produce a series of individual reports and other research tools to track the environmental, social and governance (ESG) journeys of companies listed on Bahrain Bourse, a news release said. The reports marks the latest addition to OBG’s suite of bespoke resources…
GFH Capital Limited offloads US Industrial Portfolio
DUBAI, UAE: GFH Capital Limited (GCL), a fully owned subsidiary of GFH Financial Group, has signed agreements to exit from its US Industrial Portfolio I and II (US Industrial Portfolio), which was acquired by GCL in 2016, a news release said. The portfolio consists of 26 assets with an area covering over 2.7 million square feet. These…