Egyptian billionaire Nassef Sawiris close to sealing $321 million MLS soccer deal
Sawiris and Wes Edens are looking to set up an MLS outfit in Las Vegas.
North Africa
Moroccan real estate tycoon Alami Lazraq to end 2021 with $3.7-million gain from ADI stake
ADI is a subsidiary of Alliances Group, a Morocco-based holding with a broad array of real estate investments.
Egyptian tycoon Hend El-Sherbini’s IDH to acquire majority stake in Pakistan-based IDC for $72.35 million
Islamabad Diagnostic Centre (IDC) is one of Pakistan’s largest integrated diagnostics providers.
Egypt’s wealthiest man, Nassef Sawiris loses $250 million amid news of Adidas shares buyback
Sawiris derives the majority of his wealth from his stake in Adidas.
Led by Saad Bendidi, Moroccan agribusiness Forafric set to list on U.S. exchange
Forafric is a leading Moroccan company sourcing, processing, selling and distributing agricultural commodities.
Wealthy Ben Yedder family of Tunisia gains over $3.6 million from stake in Ennakl Automobiles
Ennakl is a Tunisian automobile retailer engaged in the sale of cars under the Volkswagen, Audi, Seat and Porsche brands.
Egyptian billionaire Naguib Sawiris set to sell his majority stake in ‘struggling’ Euronews
The deal is expected to close in Q1 2022.
Egyptian tycoon Hani Berzi gains $21.7 million as Edita shares hit five-month high
Berzi owns a 41.95-percent stake in Edita Food Industries, a leader in the Egyptian packaged snack foods market.
Egyptian real estate tycoon Samih Sawiris steps down as chairman of Orascom Development Holding
He will be exiting the position after almost 30 years at the company’s helm.
Led by Egyptian executive Assem Ragab, Credit Agricole Egypt raises capital by $238.3 million
Credit Agricole Egypt SAE is engaged in corporate, retail and investment banking services in the Middle East and North Africa.
Led by Ezz Fayek, Egyptian cash back provider Waffar X raises multimillion-dollar funding round
WaffarX is the first cash-back provider in the Middle East and North Africa.
Egypt’s El-Sewedy family gains $127.1 million as shares in Elsewedy Electric surge
Elsewedy Electric is an Egyptian multinational electrical company founded by the Elsewedy family in 1938.
Controversial Egyptian tycoon Ahmed Ezz to acquire stake in Egyptian Steel for $159.2 million
Ezz Steel has an annual steel production of 7 million tonnes.
Meet the six Egyptian billionaires jointly worth $18.2 billion
Egypt ranks second in the elite group of African countries that account for over 50 percent of Africa’s private wealth.
More trouble for Algerian tycoon Ali Haddad as court unravels fresh case of fraud
The long-time ally of the late former Algerian President Abdelaziz Bouteflika appeared before a court in Fellaoucene yesterday.
U.S.-based investment firm divests $10.75 million in shares in Al-Moataz Adel Mahmoud Al-Alfi’s led EKH
EKH is an Egyptian investment company with a diversified portfolio of investments.