Egyptian Transport and Commercial Services Company S.A.E. (CASE:ETRS) intends to acquire National Transport & Overseas Services Co. for EGP 160 million on October 5, 2022. Egyptian Transport and Commercial Services Company S.A.E. (CASE:ETRS) agreed to acquire 99.9% stake in National Transport & Overseas Services Co. on April 18, 2023. Egyptian Transport and Commercial Services Company S.A.E. (CASE:ETRS) will issue 1 share in exchange of 0.0447 shares of NOSCO. The board of directors of Egyptian Transport and Commercial Services Company approved the transaction. The transaction is conditional on the approval of the shareholders of Egytrans and NOSCO. The transaction is also conditional on receipt of the relevant regulatory approvals and other customary closing conditions. As of August 7, 2023, the transaction has been approved by the Financial Regulatory Authority. As of August 8, 2023, Gamal Moharam will be the Chairperson of Egytrans NOSCO, while Abir Leheta will assume the post of Chief Executive Officer for Shared Services, and Mohamed Nadim will be the Chief Executive Officer for Commercial and Operations. The shareholders of Egyptian Transport and Commercial Services unanimously approved the transaction. The transaction is expected to close in Q4 2023.

Zaki Hashem & Partners acted as legal advisor to Egytrans. Catalyst Partners acted as financial advisor and transaction manager to NOSCO. Archer Financial Consulting acted as independent financial advisor on the transaction.