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Monday, 11 May 2020

FRA approves Pioneers Holdings’ five-way MTO

M&A WATCH- FRA approves Pioneers Holding’s acquisition of five of its subsidiaries shares: The Financial Regulatory Authority has approved Pioneers Holding non-cash mandatory tender offers to increase its share to 90% in five of its EGX-listed subsidiary companies, according to an EGX disclosure. The five companies include two real estate developers, two contracting arms, and one electric cables manufacturer: El Giza General Co. For Contracting & Real Estate, El Motaheda For Housing & Reconstruction, El Saeed For Contracting & Real Estate Investment, Cairo Housing and Development, and Electro Cable Egypt.

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