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Tuesday, 12 May 2020

Cairo 3A closes EGP 420 mn acquisition of Egyptian Starch & Glucose

M&A WATCH- Cairo 3A closes EGP 420 mn acquisition of Egyptian Starch & Glucose after successful MTO: Cairo 3A has closed its acquisition of a 97.5% stake in Egyptian Starch & Glucose Company (ESGC), said Hassan Samir Farid, the managing director of Prime Securities, which acted as a broker on the EGP 420 mn transaction. Cairo 3A earlier this year began its bid to purchase shares in ESGC held by three major shareholders, the Egyptian International Tourism Projects Company (Americana Egypt), Americana Egypt’s parent company Americana Group, and Cairo Poultry, and received regulatory approval for the MTO last month.

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