Omar Bassiouny, the founding partner and head of the corporate sector, mergers and acquisitions at the office, said that the office is working on a large number of deals this year, and it is expected that the number of them will exceed the deals that were implemented during the past year. Bassiouny added, in an interview with Daily News Egypt, that the office consulted on more than 5 merger and acquisition deals in the health sector, including two exit deals, and three minority stake sale deals, in addition to two merger and acquisition deals in the banking sector, one for a government bank, and the other private sector bank. It is likely that the option of offering shares to strategic investors is the alternative and quick solution at the present time. The government intends to offer 32 companies distributed in 18 sectors until March 2024 through offering them on the stock exchange or selling shares to strategic investors, or both. From the current offering plan, the government aims to exit from seven sectors, including the pharmaceutical industries, chemical industries, and construction, and reduce its investments in 7 sectors, including power plants, and provide an opportunity for the private sector to invest in 4 sectors, according to Cabinet data.

Source: Daily News Egypt June 09, 2023 03:42 UTC