13 Hrs
Source:
الاقتصادية
Sequoia Saudi Plans Major Stake in Medar
Sama Holding Company, a Saudi firm, plans to begin due diligence for the Egyptian company Midar for Investment and Urban Development in early 2027, with the goal of completing a potential acquisition of a majority stake ranging between 60% and 80% of the company's capital, valued at approximately two billion dollars. An initial valuation of the company is estimated between 2.5 and 3 billion dollars. Negotiations are focused on the payment mechanism for the deal, as Sama prefers to pay over two years, while Midar rejects this approach. The deal is scheduled to close before the end of June 2027. Midar is the main developer of the cities of Future City and Madi east of Cairo, possessing a large land portfolio spanning up to 11,000 acres. The two parties have previously collaborated on a development project in Future City. Sama Holding is a Saudi group affiliated with Sumo Group, operating in the real estate development sector and related services, with a presence in Saudi Arabia, Egypt, and Britain.
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