Arab Finance: The Egyptian Exchange (EGX) announced a mandatory purchase offer on Al Tawfeek Leasing Company’s (A.T. Lease) 273.722 million issued shares in a share swap deal, according to a bourse filing.
The transaction was carried out at an exchange ratio of 0.1919 shares from Al Baraka Bank Egypt for every one share of A.T. Lease.
Earlier this month, Arab Moltaqa Investments Company’s board of directors approved the fair value study prepared by independent financial advisor Forvis Mazars regarding the lender’s offer to acquire the shares of A.T. Lease.
In August, the Financial Regulatory Authority (FRA) approved Al Baraka Bank Egypt's mandatory tender offer (MTO) to acquire 329.472 million shares in A.T. Lease.
