Arab Finance: Eagle Chemicals has raised again its mandatory tender offer’s (MTO) price to acquire a majority stake in Paints and Chemical Industries (Pachin) to EGP 39 per share, instead of EGP 37, the Financial Regulatory Authority (FRA) announced on April 5^th.

Last week, Eagle Chemicals raised its price to acquire Pachin to EGP 37 per share from EGP 35.

On March 21st, the FRA revealed that Pachin received a MTO from Eagle Chemicals to acquire a majority stake in the former for EGP 35 per share.

Eagle Chemicals seeks to acquire between 75% and 100% of Pachin’s shares.

In December, Eagle Chemicals submitted a non-binding offer to acquire Pachin at an indicative price of EGP 29.5 per share.

It is worth mentioning that, on March 30th, Dubai-based National Paints Holding (NPH) raised its MTO price to acquire a majority stake in Pachin to EGP 37.75 per share from EGP 36 per share.

B Investments acquires 69% of Orascom Financial Updated 4/18/2024 1:20:00 PM

Arçelik completes acquisition of Whirlpool’s MENA operations Updated 4/4/2024 3:39:00 PM

Edita considers acquiring Bisco Misr Updated 4/1/2024 8:00:00 AM

iSON Xperiences to expand in UK, Europe via acquisition Updated 3/26/2024 11:47:00 AM

ADIB Egypt withdraws MTO for 100% stake in Cairo National for Investment Updated 3/3/2024 9:19:00 AM