Arab Finance: Misr Fertilizers Production Company’s (MOPCO) extraordinary general meeting (EGM) has approved its merger with the Egyptian Nitrogen Products Company (ENPC) on the basis of book value, a disclosure revealed on November 5th.
As per the merger, capital shall be distributed in accordance with the actual market value.
The EGM has also accredited an authorized capital of EGP 50 billion and issued capital of EGP 20.792 billion for MOPCO after the merger.
MOPCO is an Egypt-based company that is engaged in the production, marketing, wholesaling, and distribution of fertilizers and petrochemical products. The company's various products include ammonia, urea, and nitrogen.