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Reading: Compass Capital leads race for Alexandria Investments acquisition with EGP 5.72/share offer
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Dailynewsegypt > Blog > Business > Compass Capital leads race for Alexandria Investments acquisition with EGP 5.72/share offer
Business

Compass Capital leads race for Alexandria Investments acquisition with EGP 5.72/share offer

Alyaa Stohy
Last updated: 2021/06/20 at 5:20 PM
By Alyaa Stohy 2 Min Read
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Compass Capital leads race for Alexandria Investments acquisition with EGP 5.72/share offer
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Compass Capital for Direct Investment has topped the list of competitors in the acquisition bid for Alexandria National Company for Financial Investments, with an offer of EGP 5.72/share.

The company is looking to expand its investment portfolio by competing for the acquisition, a move that has ignited the competition for the acquisition.

Compass Capital has put forward an attractive acquisition price that is 12 piasters more than the previous offer received by the Alexandria National Company for Financial Investments. 

It has put in motion a compulsory purchase offer to acquire 100% of the latter’s shares at a cash price of EGP 5.72/share, with a minimum execution of 51% of the capital shares of the target company.

The Alexandria National Company for Financial Investments has received several acquisition offers, the latest of which was from Tycoon Holding Company. The latter wants to acquire 90% of the company for EGP 5.60/share, bringing the valuation of the entire company’s shares to just over EGP 29.2m.

This came after the Zeta Investment Company submitted an offer to buy the same stake at EGP 5.48/share.

The Alexandria National Company for Financial Investments has also received offers from Kayan Sustainable Development and Zaldi Capital. This is in addition to an offer from a group of investors, including Egyptian businessman Ahmed Al-Sabaa and Saudi investor Mustafa Al-Humaidan.

The Abu Dhabi Islamic Bank (ADIB) is the selling party to the potential transaction.

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TAGGED: Alexandria Investments, Compass Capital
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Suez Cement invests millions of dollars in environmental sustainability efforts
Suez Cement invests millions of dollars in environmental sustainability efforts
Business
As Egypt decides to establish tourist chambers, federation, what is in it for tourism industry?
As Egypt decides to establish tourist chambers, federation, what is in it for tourism industry?
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FRA extends deadline for electing Egyptian federation for securities’ board for 3 months
FRA extends deadline for electing Egyptian federation for securities’ board for 3 months
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New MoU signed to develop SMEs in industrial zone in East Port Said
New MoU signed to develop SMEs in industrial zone in East Port Said
Business
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