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Polyserve For Fertilizers BoD ratifies submitting MTO to acquire Ferchem Misr

Polyserve For Fertilizers BoD ratifies submitting MTO to acquire Ferchem Misr

Arab Finance Polyserve For Fertilizers & Chemicals' Board of Director (BoD) that convened on October 11, 2018, approved submitting Mandatory Tender Offer to acquire 100% of Ferchem Misr Co. for Fertilizers & Chemicals (FERC), at LE6.31 per share.

It is worth to mention, Polyserve For Fertilizers owns %88.192 of Ferchem Misr Co. for Fertilizers while International Agricultural Products (IFAP) owns 15,6%.

Moreover, Samad Misr -EGYFERT (SMFR) owns 7.5715% of Polyserve For Fertilizers & Chemicals.

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