Arab Finance: The board of Asek Company for Mining (Ascom) agreed on acquiring 90% of Ostool Transport’s shares in exchange for EGP 641 million, equivalent to EGP 8.224 per share, according to a bourse disclosure.
The members unanimously approved the fair value (FV) study of Ostool’s share price submitted by Financial Advice Corporate Transactions (FACT), which estimated the transaction at EGP 6.253 per share.
The EGX-listed company intends to purchase 77.941 million shares in Ostool Transport, owned by Raya Holding for Financial Investments.
Raya’s board of directors recently approved the FV study prepared by its independent financial advisor Prime Capital, after receiving a no-objection approval from the Financial Regulatory Authority (FRA) on the agreement.
In June 2025, Ascom’s board greenlighted the acquisition deal.