Arab Finance: The Financial Regulatory Authority (FRA) has granted Africa Global Logistics (AGL) an additional 60 working days to submit a mandatory tender offer (MTO) for shares in the Egyptian Transport and Commercial Services Company (EGYTRANS), as per a disclosure.
The extension will begin on the first working day after the current September 27, 2026 deadline expires and will run until December 21, 2026, the FRA said in a statement on September 17.
France-based logistics group AGL previously submitted a letter expressing its intention to acquire up to 100% of EGYTRANS’ shares through an MTO.
The proposed transaction requires AGL to acquire at least 75% of the Egypt-based logistics company’s shares and ultimately seeks to voluntarily delist EGYTRANS from the Egyptian Exchange (EGX).
AGL indicated a preliminary purchase price ranging between EGP 11.25 and EGP 12.25 per share.
Separately, EGYTRANS agreed to grant AGL access to conduct due diligence, subject to confidentiality and data protection requirements.
