Arab Finance: The board of directors of Paints and Chemical Industries (Pachin) (PACH) decided unanimously 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, according to a filing to the Egyptian Exchange (EGX) on Monday.

On January 4^th, the Financial Regulatory Authority (FRA) announced that it had received a letter of intent (LoI) from Compass Capital for Financial Investment for a non-binding offer for the acquisition of up to 90% of Pachin.

FRA said that the final price would be set based on the due diligence of the targeted company.

Pachin is an Egypt-based public shareholding company that operates in producing, marketing, and distributing paints, varnishes, industrial chemicals, printing inks, animal extracts, and other products.

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