Cairo Poultry to exit stake in Strach and Glucose
Updated 5/6/2020 2:54:52 PM
ArabFinance: Cairo Poultry (POUL) agreed on Cairo Three A Group’s purchase offer to acquire its 13,654,312 shares in Egyptian Starch and Glucose Company (ESGI), according to the former company’s May 6th statement filed to the Egyptian Exchange.
On May 5th, the company's general assembly approved the board of directors’ resolution to sell the company stake at EGP 8.61 per share.
Cairo Three A earlier submitted binding offer letters to purchase Americana Group (EITP) and Cairo Poultry’s stakes in Starch and Glucose’sshare capital, which represent 11,636,789 and 13,654,312 shares, respectively.
Cairo Poultry, a subsidiary of Kuwait Food Company, is an Egypt-based company that operates in the farming and food processing sectors. The company focuses on the breeding and fattening chicks, production of animal feed, and hatching of eggs, as well as participating in similar projects inside and outside Egypt.
