Saudi-Listed Rabigh Refining and Petrochemical Company’s (“Petro Rabigh”) has completed a capital increase of SAR 7,950,000,000 by way of a rights issue (“Rights Issue”), offering 795,000,000 new shares at an offer price of SAR 10 per share to existing shareholders. The Rights Issue issue was formally announced on 7 December 2021 and the new shares commenced trading […]
Banking & Finance
Energy & Trading
Other
Masen and Edf Renouvelables in repowering Koudia Al Baida wind
The Moroccan Agency for Sustainable Energy (MASEN) and EDF Renouvelables have announced the financial closure of the repowering of the Nassim Koudia Al Baida Wind Farm, located in the region of Tlat Taghramt near Tangier
Deal & transactions
Food & Beverage
Other
Mirova acquires stakes in Morocco’s Atlas Fruit Company. The advisors
Mirova, an affiliate of Natixis Investment Managers, and manager of the Land Degradation Neutrality (LDN) impact fund, has completed the acquisition of a majority stake in Atlas Fruits Company. The Land Degradation Neutrality (LDN) Fund,
Asafo & Co. advised Disty Technologies on its IPO, the first ever, on the Alternative Market of the Casablanca Stock Exchange. Disty Technologies, Moroccan importer and distributor of IT equipment and solutions, has successfully listed
Ahli United Bank (“AUB”) has secured a USD1.1 billion sustainable Murabahah financing facility. The dual-tranched facility is the first of its type raised by a financial institution worldwide, according to the bourse filing. The three-year
Deal & transactions
Food & Beverage
Saudi Arabia
Tanmiah Food Company and Tyson Foods sign strategic partnership
US-based Tyson Foods and Saudi-based Tanmiah Food Company (“Tanmiah”) have entered into a strategic partnership agreement to accelerate growth in agrifood and poultry production capacity and to meet growing global protein demand. The parties to
Deal & transactions
Egypt
Food & Beverage
Agthia Group enhances Egyptian portfolio with the acquisition of Auf Group
Agthia Group, a major player in the food and beverage sector in MENA, is to enter into a strategic acquisition of 60% of Auf Group, an Egyptian healthy snacks and coffee company operating under the Abu
Deal & transactions
Egypt
Energy & Trading
Infinity Group and Africa Finance Corporation acquire Lekela Power
Infinity, a renewable energy company based in Egypt, and Africa Finance Corporation (“AFC,”), infrastructure solutions provider, are to acquire Lekela Power from Actis and Mainstream Renewable Power, in a deal that will make Infinity the
Banking & Finance
Energy & Trading
Other
Asafo & Co. advises Norfund in its investment in CrossBoundary
Norfund and KLP, Norway’s largest pension company, will together invest USD 40 million in equity in CrossBoundary Energy (CBE), a developer, owner, and operator of commercial and industrial renewable energy systems in Africa. The investment
Deal & transactions
Industrial
Other
Med Investment partners with Jotun for the production of paint in Algeria
Med Investment Holding, an investment company owned by the Kerrar family, has concluded a partnership agreement with the Norwegian group Jotun for the production of paint and coatings in Algeria. Production will be provided
