Al Baraka Bank Egypt buys leasing arm A.T. Lease in first bank share-swap deal
What's the deal? Al Baraka Bank EgyptDealroom has a profile for this one. Try Dealroom → has acquired financial leasing company Al Tawfeek Leasing (A.T. Lease)Dealroom has a profile for this one. Try Dealroom → through a mandatory tender offer for up to 90% of its shares. The offer, subject to a minimum acceptance of 51%, was structured entirely as a share swap with no cash alternative.
The terms: Shareholders received 0.1919 newly issued Al Baraka shares for each A.T. Lease share, based on independent fair values of EGP 26.00 per Al Baraka share and EGP 4.988 per A.T. Lease share. About 273.72 million A.T. Lease shares were tendered by the close of the offer period.
Why now? The offer ran on the Egyptian ExchangeDealroom has a profile for this one. Try Dealroom → from August 19 to September 16, 2026, over 20 working days. It cleared both the Financial Regulatory Authority and the Central Bank of Egypt.
What's the endgame? Both firms sit within the Al Baraka groupDealroom has a profile for this one. Try Dealroom →: Al Baraka Bank Egypt is an Egyptian Islamic bank and subsidiary of Al Baraka Group, while A.T. Lease is a listed leasing company and group member. The deal strengthens the bank's position in financial leasing.
The signal: The acquisition marked the first capital increase by an Egyptian bank through a share swap, setting a template for intra-group consolidation without cash outlay. Matouk Bassiouny & HennawyDealroom has a profile for this one. Try Dealroom → advised Al Baraka on the deal's capital markets aspects, led by partner and head of capital markets Mohamed Abdelfattah.
Read more: chambers.com
Image credit: Generated with Gemini
