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Egypt’s FRA mulls acquisition offer for Americana Egypt

Egypt’s FRA mulls acquisition offer for Americana Egypt
Financial Regulatory Authority

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) has received a mandatory tender offering (MTO) from Americana Group for Food and Touristic Projects to acquire a 9.65% stake in the Egyptian Company for International Touristic Projects (Americana Egypt).

Americana Group for Food and Touristic Projects offered to purchase up to 38.6 million shares at EGP 3.9 per share to top up its stake in Americana Egypt to 100%, according to a statement to the Egyptian Exchange (EGX) on Thursday.

The offer and the fair value (FV) report of the independent financial advisory are currently being studied.  

It is noteworthy that during July, Americana Egypt said that Adeptio AD Investments decided to submit a request to Egypt’s FRA to acquire 100% of the company’s shares.