EFG Hermes Advises Nesma & Partners on Strategic Acquisition of Al Yusr Industrial Contracting Company (AYTB)
Since the beginning of the year, EFG Hermes has advised on 5 M&A transactions and 6 ECM transactions across the region, including landmark transactions in Egypt, UAE, Saudi Arabia, and Oman, underscoring its leadership in regional markets Google News تابعونا على تابعونا على تطبيق نبض
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CairoScene
7 hours ago
- CairoScene
Saudi AI Firm Lucidya Raises $30 Million to Scale Its Arabic Platform
The platform helps businesses and government entities understand and respond to customer feedback in real time, offering analytics tools that are compliant with data protection laws. Jul 15, 2025 Saudi Arabia-based AI startup Lucidya has raised $30 million in a Series B funding round to scale its customer experience management (CXM) platform and Arabic-language AI capabilities. The round was led by Impact46 and supported by several regional investors. Founded in 2016, Lucidya uses proprietary AI models to analyse customer sentiment and engagement across 15 Arabic dialects. Its platform helps businesses and government entities understand and respond to customer feedback in real time, offering analytics tools that are fully compliant with local and international data protection laws. With this latest investment, Lucidya aims to expand its presence across the GCC and broader MENA region, while enhancing its Arabic-first AI agents. These tools automate customer support and engagement, offering tailored responses in Arabic with up to 92% sentiment detection accuracy. The funding will also support product development and hiring as Lucidya looks to deepen its foothold in key sectors including telecommunications, banking, healthcare, and hospitality. Lucidya previously raised $6 million in a Series A round in 2022. The new investment reflects growing interest in regional AI infrastructure and localised tech solutions, particularly those tailored to Arabic-speaking users.
bnok24
8 hours ago
- bnok24
EFG Hermes Advises Nesma & Partners on Strategic Acquisition of Al Yusr Industrial Contracting Company (AYTB)
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its Investment Banking division has successfully concluded its advisory role to Nesma & Partners, the leading integrated projects solutions company in Saudi Arabia, on the acquisition of Al Yusr Industrial Contracting Company (AYTB), a prominent provider of industrial services in the Kingdom. EFG Hermes acted as the sole buyside financial advisor to Nesma & Partners Saud Altassan, CEO of EFG Hermes KSA, added: 'This transaction is a strong testament to the strength and depth of Saudi Arabia's industrial sector and reflects our commitment to empowering key national players that are actively shaping the Kingdom's transformation. We are honored to have supported Nesma & Partners on this important milestone and remain focused on driving impactful, value-creating advisory work that aligns with Vision 2030's goals of localization, diversification, and sustainable growth Commenting on the transaction, Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said: 'We are proud to have supported Nesma & Partners in executing this strategic acquisition, which reflects our continued commitment to advising regional champions as they grow, transform, and contribute to national development priorities. This transaction marks a pivotal moment in Nesma & Partners' evolution and enhances its capacity to deliver high-value services across the whole asset lifecycle AYTB brings over four decades of specialized expertise in operations and maintenance (O&M), manufacturing, and industrial services across critical sectors such as oil & gas, petrochemicals, and power generation. AYTB will continue to operate as an independent company within the Nesma & Partners group, preserving its organizational structure, brand, and operational autonomy Nesma & Partners group is the leading provider of integrated project solutions in the Kingdom of Saudi Arabia. With a strong legacy in contracting, Nesma & Partners has grown its footprint both locally through its contracting and industrial services and globally through its wholly owned subsidiary, Kent, a renowned leader in engineering and project management services What began in 1981 as a contracting firm to meet the growing demands of an emerging economy in the rapidly developing Kingdom of Saudi Arabia, has evolved today into a diversified group delivering end-to-end, reliable, and innovative services across the energy, infrastructure, and building sectors, spanning consulting, engineering, construction, commissioning, operations, and maintenance Jointly owned by Nesma Contracting Limited, Alturki Holding, Rawabi Holding, and the Public Investment Fund (PIF), the group is deeply committed to Saudi Arabia's Vision 2030, driving national transformation through consistent innovation, strategic capacity building, and a firm dedication to sustainable growth Since the beginning of the year, EFG Hermes has advised on 5 M&A transactions and 6 ECM transactions across the region, including landmark transactions in Egypt, UAE, Saudi Arabia, and Oman, underscoring its leadership in regional markets Google News تابعونا على تابعونا على تطبيق نبض
Middle East
a day ago
- Middle East
OPEN// FM praises strategic, comprehensive partnership between Egypt, EU
BRUSSELS/CAIRO, July 14 (MENA) - Minister of Foreign Affairs, Emigration and Egyptians Abroad Badr Abdelatty praised the positive developments in Egypt-European Union (EU) relations, emphasizing the strategic and comprehensive partnership between the two sides. He highlighted the recent approval by the European Parliament and the European Council of the second tranche of the EU's macro-financial assistance package to Egypt, valued at €4 billion, as a reflection of this partnership. This came during Abdelatty's meeting on Monday with European Commissioner for the Mediterranean Dubravka Šuica, on the sidelines of the 5th Ministerial Meeting between EU Foreign Ministers and their Southern Neighborhood counterparts, held in Brussels. Abdelatty said Egypt holds it as a priority to enhance economic, trade, and investment relations with the EU and to follow up on the outcomes of the EU-Egypt Investment Conference held in June 2024. The meeting also featured a discussion on the upcoming Mediterranean Charter, which the EU plans to launch by the end of this year to promote political dialogue and stronger partnerships with Southern Mediterranean countries. Additionally, he called for enhancing free trade by removing barriers to Egyptian exports entering European markets, establishing legal migration channels, and facilitating access to the European labor market. He also stressed the need to work collectively toward de-escalating tensions in the region to foster peace and stability. (MENA) A I E/R E E
