• Tuesday, 30 November 2021

    SODIC approves Aldar offer despite falling short of fair value report benchmark

    SODIC’s board of directors has approved a bid from Aldar Properties and ADQ despite the offer price falling short of the benchmark set in a fair value report, according to an EGX filing (pdf). The Emirati consortium has offered to...
  • Thursday, 28 October 2021

    Bidding war for Alex Medical cooling off?

    The bidding war for Alex Medical appears to be cooling down, with Alexandria Medical Investment subsidiary TAT Medical Service being the latest to pull its offer to acquire up to 100% of Alex Medical Services, according to a Financial Regulatory...
  • Sunday, 27 June 2021

    ADQ still wants Amoun Pharma

    ADQ moves forward with EGP 10 bn bid for Amoun Pharma: A subsidiary of Abu Dhabi’s sovereign wealth fund ADQ is seeking Financial Regulatory Authority approval to launch a mandatory tender offer for up to 100% of Bausch Health’s unit...
  • Monday, 14 June 2021

    Hong Kong’s Zeta tables formal bid for brokerage house ANFI

    A mandatory tender offer by Hong Kong’s Zeta Investments targeting up to 90% of brokerage house ANFI kicks off tomorrow, the EGX said today in a bulletin. Shareholders of the Alexandria National Company for Financial Investments (ANFI), will get an option to sell at EGP...
  • Thursday, 15 October 2020

    Suez MTO for 100% of Tourah Cement kicks off today

    Shareholders in Portland Tourah Cement Company (Tourah Cement) will be able to subscribe to a mandatory tender offer by parent company Suez Cement starting today, the EGX said. The offer, which targets 20.075 mn shares at EGP 7.12 apiece, will...
  • Wednesday, 14 October 2020

    Egypt’s FRA approves HeidelbergCement, Suez Cement MTOs for subsidiaries

    M&A WATCH- HeidelbergCement and Suez Cement’s MTOs for the remaining stakes in their subsidiaries got the regulatory greenlight from the Financial Regulatory Authority (FRA) yesterday, according to two separate regulatory filings (here and here — pdfs). HeidelbergCement is lodging a...
  • Wednesday, 9 September 2020

    Bitumode board approves MTO to delist from EGX

    Modern Waterproofing’s (Bitumode) BoD approved delisting the company from the EGX and taking it private, according to a bourse disclosure (pdf). Bitumode will make a mandatory tender offer to its shareholders on the EGX worth EGP 3.91, which was the...
  • Wednesday, 1 July 2020

    Adeptio loses appeal Americana MTO dispute, receives new fair value study

    DISPUTE WATCH- Adeptio loses appeal Americana MTO dispute, receives new fair value study: An administrative court has rejected Adeptio’s appeal against a Financial Regulatory Authority (FRA) decision requiring it to mount a mandatory tender offer (MTO) for its acquisition of...
  • Tuesday, 19 May 2020

    Bitumode agrees to share price in Sika Egypt’s MTO

    M&A WATCH- Modern Waterproofing (Bitumode) has agreed to the EGP 3.91 share price Sika Egypt has set in its mandatory tender offer (MTO) for 100% of Bitumode’s 119 mn shares, according to Hapi Journal. The Financial Regulatory Authority had approved...

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