Americana Group, Cairo Poultry complete sale of Egyptian Starch & Glucose

The transaction was executed at a price of 8.6 per share

  
Traders work at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

Traders work at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

REUTERS/Mohamed Abd El Ghany

Cairo –  The Egyptian Company for International Touristic Projects (Americana Group) and Cairo Poultry announced the completion of sale of the Egyptian Starch and Glucose to Cairo Three A for International Industries.

On 11 May, Americana Egypt and Cairo Poultry sold 11.63 million shares and 13.65 million shares, respectively, the two companies said in separate statements to the Egyptian Exchange (EGX) on Tuesday.

The transaction was executed at a price of 8.6 per share.

In April, the Egyptian Financial Regulatory Authority (FRA) approved a request to publish the MTO submitted by Cairo Three A for International Industries to acquire the Egyptian Starch and Glucose.

During 2019, the Egyptian Starch and Glucose suffered net losses of EGP 17 million, down from EGP 74.3 million in 2018, while its sales rose to EGP 967.8 million from EGP 909.2 million.

Source: Mubasher

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