Arab Finance: The Financial Regulatory Authority (FRA) has received a letter of intent from Eagle Chemicals regarding a non-binding offer to fully acquire Paints and Chemical Industries (Pachin) (PACH) at an indicative price of EGP 29.5 per share, according to a statement on December 26^th.

Eagle Chemicals plans to start the due diligence process on Pachin’s shares, the FRA added.

Paints is an Egypt-based public shareholding company that operate within the production, marketing, distribution of paints, varnishes, industrial chemicals, printing inks, animal extracts, and other related products.

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