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Orascom Investment assigns financial advisor to update Nile Sugar's valuation report

Orascom Investment assigns financial advisor to update Nile Sugar's valuation report

ArabFinance: Orascom Investment Holding (OIH) stated that the Board of Director (BoD) which was convened on April 21, 2019, approved assigning the independent Financial Advisor to update Nile Sugar's valuation report to take into consideration the results of the audited financial statements for the period ending December 31, 2018, and financial statements for the period ending on 31/3/2019. 

Moreover, the BoD okayed delegation of the vice-Chairman to negotiate the extension of the exclusivity period of the consummation of the transaction due on 26/04/2019 with the representatives of the sellers. 

The BoD also ratified amending the first section of the tenth item on the agenda of the Ordinary General Assembly scheduled to convene on 5/5/2019 regarding the acquisition of Nile Sugar Company to be " update the General Assembly of the latest procedures undertaken by the Company until the update of the independent Financial Advisor's report and the finalization of the negotiations of the transaction".

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