Pachin receives non-binding purchase offer from National Paints Holdings

Updated 11/3/2022 3:33:00 PM

Arab Finance: Paints and Chemical Industries (Pachin) (PACH) has received a non-binding offer (NBO) from National Paints Holdings for the acquisition of 100% of Pachin’s shares for an initial price of EGP 29 per share, according to a filing to the Egyptian Exchange (EGX) on November 3rd.

National Paints Holdings will conduct due diligence to determine the final price of the deal.

Accordingly, Pachin's board of directors is currently studying the offer in cooperation with Al Ahly Pharos.

Pachin is an Egypt-based public shareholding company that operates in the production, marketing, and distribution of paints, varnishes, industrial chemicals, printing inks, animal extracts, and other related products.