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Tuesday, 12 February 2019

Pioneers Holding submits MTO for 41.46% of Electro Cable Egypt

M&A WATCH- Pioneers Holding subsidiaries submit MTO for 41.46% of Electro Cable Egypt: Three of Pioneers Holding’s subsidiaries have submitted a mandatory tender offer for 41.46% of Electro Cable Egypt, or 294.9 mn shares at par value of EGP 1.35, according to Al Mal. Pioneers already owns 48.5% of Electro Cable through its subsidiary Summu Consulting and would raise its stake in the company to 90% if the transaction goes through.

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