Egypt: Amoun Real Estate submits MTO for majority stake in Atlas for Investment

The Egyptian Exchange bell is seen at the stock exchange in Cairo, Egypt February 6, 2018. Image used for illustrative purpose.Amr Abdallah Dalsh

Amoun aims to acquire a majority stake in Atlas, ranging from 51% to 90%

Staff Writer, Arab Finance

September 27, 2024

PHOTO
The Egyptian Exchange bell is seen at the stock exchange in Cairo, Egypt February 6, 2018. Image used for illustrative purpose.Amr Abdallah Dalsh

Egypt - The Financial Regulatory Authority (FRA) has received a mandatory tender offer (MTO) from Amoun Real Estate Investment Company to acquire 65.59%, equivalent to 427.207 million shares, of Atlas for Investment and Food Industries at a price of EGP 0.78 per share, as per a statement.

Amoun aims to acquire a majority stake in Atlas, ranging from 51% to 90%.

The MTO is pending the FRA’s approval.

Atlas, established in 1997 and listed in 2012, has four subsidiaries focusing on real estate, farm development, and agricultural processing.

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