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Wednesday, 27 June 2018

FRA signs off on Mondi acquisition of Suez Bags

M&A WATCH- FRA signs off on Mondi acquisition of Suez Bags: The Financial Regulatory Authority (FRA) gave its official blessing to Mondi’s acquisition of a 70.1% stake in Suez Bags, according to an EGX notice on Tuesday. Mondi will buy 7,666,435 shares at a price of EGP 26.01 per share, pricing the transaction at EGP 199.4 mn. Mondi Paper Sales parent company, the London- and Johannesburg-listed Mondi Group, has been on a buying spree in Egypt. The firm the acquisition of 100% of Egyptian industrial bags maker National Company for Paper Products (NPP) for EUR 24 mn (EGP 510 mn) earlier this week.

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