Mubasher: Kuwait Food – Americana announced that Adeptio AD Investments has submitted a request to the Egyptian Financial Supervisory Authority to exempt it from proposing a compulsory takeover of Americana’s subsidiaries in Egypt.

The Egyptian authority has approved Adeptio’s request to propose a compulsory offer to purchase 256.07 million shares or 53.46% of Cairo Poultry’s shares, according to a bourse statement on Tuesday.

In addition, the authority approved exempting Adeptio, the main shareholder in Americana, from proposing an offer to buy 361.27 million shares or 90.32% of Egyptian Company for International Tourism Projects, and 45.82 million shares or 91.5% of Egyptian Starch and Glucose.

Adeptio currently owns a stake of 93.4% in Americana’s KWD 40.2 million capital.