Cairo – Mubasher: The board of directors of the Egyptian Company for International Touristic Projects (Americana Egypt) has accepted the offer submitted by Cairo Three A for International Industries to sell its interest in the Egyptian Starch and Glucose, according to a bourse statement on Monday.
Cairo Three A for International Industries has offered to buy Americana Egypt’s entire stake in the Egyptian Starch and Glucose, amounting to 11.636 million shares.
In a separate bourse statement, Cairo Poultry also announced accepting Cairo Three A’s offer to sell its stake in the Egyptian Starch and Glucose, totalling 13.654 million shares.
The offer is valued at EGP 450-510 million with a share price ranging from EGP 8.98 to EGP 10.18.
The final price will be determined upon the completion of the due diligence process due to be concluded no later than 9 April.
Upon accepting the offer, Cairo Poultry and Americana Egypt will accept any price offered by the purchaser within the price range and sell their interests in the Egyptian Starch and Glucose in response to the mandatory tender offer to be submitted by the purchaser no later than 12 April.
