Arab Finance: Cairo for Investment and Real Estate Development (CIRA Education) plans to submit a mandatory tender offer (MTO) to acquire up to 90% of the issued share capital of Cairo for Educational Services, as per a bourse filing.
The initial price for the transaction stands at EGP 30 per share, with the company to remain listed on the Egyptian Exchange (EGX).
The announcement came after Social Impact Capital Ltd submitted an MTO for CIRA Education’s shares.
CIRA is an Egypt-based company, operating in the investment field across diversified sectors, including education, construction and real estate, healthcare, information technology, and support services.