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Thursday, 22 April 2021

Also on our Radar on 22 April 2021

Sahara Group is not buying Egyption Iron & Steel Company: State-owned Metallurgical Industries Holding Company denied reports in the local press suggesting that UK-based Sahara Group had submitted a USD 400 mn non-binding offer to acquire its subsidiary Egyption Iron & Steel Company, according to an EGX disclosure (pdf) yesterday. The company had announced earlier this year that it would make an offer, which company representatives told the local press they did, insisting that the offer is serious.

Dice has until 10 May to submit a fair value report on its shares, which the Financial Regulatory Authority (FRA) ordered after Dice’s shares lost more than half their value. The company was originally set to submit the assessment on 20 April but received approval from the FRA for a deadline extension (pdf).

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