Arab Finance: AMN for Industrial Investment has acquired an additional stake in Paints and Chemical Industries (Pachin) (PACH) for EGP 4.644 million, according to a disclosure by the Egyptian Exchange (EGX) on Tuesday.

The transaction was implemented on 160,205 shares at an average purchase price of EGP 28.99 per share.

Accordingly, AMN’s stake in Pachin increased to 10.604% from 9.937%.

On a similar note, the board of directors of Pachin decided on Monday to allow Compass Capital for Financial Investment to conduct due diligence on the company for the acquisition of a stake ranging between 51% and 90% at an indicative price of EGP 30 per share.

Pachin is an Egypt-based public shareholding company that produces, markets, and distributes paints, varnishes, industrial chemicals, printing inks, animal extracts, and other products.

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