Arab Finance: The Egyptian Transport & Commercial Services Co. (Egytrans NOSCO) has received notification from Africa Global Logistics of its intention to submit a mandatory tender offer (MTO) to acquire the company's shares, paving the way for its voluntary delisting from the Egyptian Exchange (EGX), as per a disclosure.
Africa Global Logistics seeks to acquire up to 100% of Egytrans NOSCO's share capital, with a minimum acquisition threshold of 75% of the total outstanding shares.
The indicative offer price ranges between EGP 11.25 and EGP 12.25 per share. However, the final acquisition price remains subject to change based on the outcome of the due diligence process to be conducted on the company.
Established in 1973, the company is engaged in the provision of transport and logistics solutions in Egypt. The company offers a range of services, including sea freight, air freight, consolidation, warehousing, exhibitions, project logistics, and specialized transport. Other services include customs clearance, packing, and land transportation.