EGYtrans to wrap up NOSCO’s acquisition deal in Q4
Updated 8/9/2023 8:05:00 AM
Arab Finance: Egyptian Transport and Commercial Services Company (EGYtrans) is expected to close the acquisition deal of 99.9% or 2.999 million shares of National Transport and Overseas Services Company (NOSCO) in the fourth quarter (Q4) of this year, according to an emailed press release to Arab Finance on August 8th.
The transaction will be implemented via share swap, after which the capital of the combined company, EGYtrans NOSCO, will be EGP 224.6 million.
On July 10th, EGYtrans’ extraordinary general meeting (EGM) approved the acquisition of NOSCO.
The acquisition will be carried out through a share swap exchanging one share of Egytrans’ capital for 0.0447 shares of NOSCO’s capital.
Archer Financial Advisors previously set the fair value for NOSCO at EGP 58.033 and at EGP 2.594 for Egytrans.
The combined firm will be headed by EGYtrans’ Chairman Gamal Moharam.
EGYtrans is an Egypt-based company engaged in international sea, air, and land transportation services.
The company offers a wide range of services such as import and export, general cargo handling, dry cargo handling, customs clearance, warehousing, packing, and specialized transportation.
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