Cairo - Mubasher: The Egyptian Financial Supervisory Authority (EFSA) has approved exempting Americana Group from presenting a mandatory tender offer (MTO) for the purchase of 2.9 million shares in Cairo Poultry owned by Egyptian Canning Company.

Okaz Stockbrokers and Investment Consultants, the commissioner for Americana Group, said in a statement to the Egyptian Exchange (EGX) on Wednesday, that the targeted shares represent 0.772% of the company’s capital.

All of the transaction will be disclosed, and the price will be set in accordance to trading rules, the statement added.