Zeta Investments rises bid to acquire Egypt's Alexandria National

The listed company received two competitive MTOs from Tycoon Holding and Zeta Investments LTD to acquire no more than 90% from ANFI

  
Traders work at the Egyptian stock exchange in Cairo, March 12, 2015.

Traders work at the Egyptian stock exchange in Cairo, March 12, 2015.

REUTERS/Mohamed Abd El Ghany
 

Egypt - Alexandria National Company for Financial Investment (ANFI) announced that UAE based company, Zeta Investment rose its bid to acquire 90% of ANFI to EGP 6 per share, according to ANFI’s statement filed to the Egyptian Exchange.

Late February, ANFI offered to acquire a majority stake in Alexandria National at EGP 5.48 per share.

The listed company received two competitive MTOs from Tycoon Holding and Zeta Investments LTD to acquire no more than 90% from ANFI.

The listed company achieved a net profit of EGP 4.56 million in 2020, versus a net loss of EGP 709,656 in 2019.

Established in 1996 and listed on EGX in 1998, ANFI provides investment banking services including investment advisory on mergers and acquisitions, initial public offering, and underwriting.

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