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Paris court freezes €1m paid by Sipromad in failed Africanews takeover

The outcome of the €1m dispute pitting Sipromad against Euronews over the failed acquisition of Africanews should be known by the end of July. [...] (201 words)

Issue dated 26/03/2021

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Business

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Africanews
Euronews
Naguib Sawiris
Redland Ylias Akbaraly
Sipromad
Stas & Associés

Naguib Sawiris calls it quits on Africanews trial

Following its defeat in court by Sipromad, the broadcaster Euronews has in the end decided not to appeal in an attempt to hold on to the one million euro deposit that the company paid in 2019.

EGYPT MADAGASCAR Business 30/11/2021

Sipromad wins €1m court case against Naguib Sawiris' Euronews

After lengthy proceedings, a Paris court has ruled in favour of Madagascan company Sipromad in the dispute pitting it against Egyptian tycoon Naguib Sawiris' Euronews TV channel, over the failed takeover of Africanews in 2019.

Ylias Akbaraly (left), owner of the company Sipromad, and the Egyptian businessman Naguib Sawiris (right).

MADAGASCAR Business 04/05/2021

Sipromad's big cigarette sales catch tax authority's attention

A recent tax audit of Ylias Akbaraly's Sipromad highlighted the group's strong tobacco sales and that these had been undervalued for three years in a row.

MADAGASCAR Business 23/04/2021

IN Groupe and Sipromad struggle to win back visa contract

Despite active lobbying by the French printing giant IN Group and its Madagascan partner Sipromad, the more modestly sized Mada OZI has so far held on to the strategic contract to produce Madagascan visas.

AFRICA Finance Business 08/03/2021

Sawiris' offshore holdings keep Euronews afloat

TV news channel Euronews is not in great shape, particularly after the failed sale of Africanews. The European Commission plans to reduce its subsidy and the various loans from majority stakeholder Naguib Sawiris have not been enough to make the company self-sufficient.

Sawiris' holdings behind TV channel Euronews.

AFRICA Business 10/12/2020

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Africanews
Euronews
Naguib Sawiris
Redland Ylias Akbaraly
Sipromad
Stas & Associés

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Paris court freezes €1m paid by Sipromad in failed Africanews takeover

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Paris court freezes €1m paid by Sipromad in failed Africanews takeover

This article may be accessed by subscribers and e-wallet holders (USD 6)

2 options offered to continue reading

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create a free account

Set up email notifications for these topics

Naguib Sawiris calls it quits on Africanews trial

Sipromad wins €1m court case against Naguib Sawiris' Euronews

Sipromad's big cigarette sales catch tax authority's attention

IN Groupe and Sipromad struggle to win back visa contract

Sawiris' offshore holdings keep Euronews afloat

Verdict on Africanews sale expected on 11 January

French court to hear round one in Africanews sale case

Ylias Akbaraly's pan-African broadcasting ambitions

Art makes good business sense for leading entrepreneurs

Sipromad avoids invading Air Madagascar's air space

Set up email notifications for these topics

First visit

Contacts

Tools

Follow us

A website produced by

Indigo Publications also publishes: