ORASCOM INVESTMENT HOLDING OIH.CA :

* UPDATES ON TALKS BETWEEN VICE-CHAIRMAN AND SHAREHOLDERS OF NILE SUGAR ON ACQUISITION OF THEIR SHARES IN NILE SUGAR

* VICE-CHAIRMAN PRESENTED THE RESULTS OF THE NEGOTIATIONS WITH THE SHAREHOLDERS OF NILE SUGAR

* 100% OF THE ISSUED SHARE CAPITAL OF NILE SUGAR S.A.E. TO BE ACQUIRED BY THE COMPANY

* PURCHASE PRICE EGP 3.59 BILLION AS TOTAL AMOUNT OF TRANSACTION

* PURCHASE PRICE IN ADDITION TO SETTLEMENT OF CURRENT SHAREHOLDERS' LOAN WITH AN AGGREGATE AMOUNT OF ABOUT EGP 70 MILLION

* PAYMENT OF 10 PERCENT OF TOTAL PURCHASE PRICE AMOUNTING TO EGP 359.1 MILLION IN ADDITION TO SETTLEMENT OF SHAREHOLDERS' LOAN OF APPROX. EGP 70 MILLION WILL BE PAID UPON COMPLETION OF TRANSACTION

* REMAINING 90 PERCENT OF PURCHASE PRICE AMOUNTING TO EGP 3.23 BILLION SHALL BE RECORDED AS DEBT ON COMPANY'S FINANCIAL STATEMENTS

* COMPANY SHALL ISSUE PROMISSORY NOTES WITH AMOUNT OF REMAINING 90% OF PURCHASE PRICE AS A GUARANTEE FOR PAYMENT IN FAVOR OF THE SELLERS

Source:(https://bit.ly/2FThNUn) Further company coverage: OIH.CA

((Reuters.Briefs@thomsonreuters.com;))