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Adeptio requests FRA approval to acquire American’s shares in unit

Adeptio requests FRA approval to acquire American’s shares in unit

ArabFinance: Adeptio AD Investments Ltd submitted an application to Financial Regulatory Authority (FRA) to acquire 100% of the share capital of the Egyptian International Tourism Projects – Americana (EITP) to one of Adeptio’s wholly-owned subsidiaries and subsequent delisting of Americana.

As a part of the application, Adeptio and its subsidiaries will comply with all capital market regulations in Egypt including a tender offer for Americana’s listed shares as applicable reference is made to the news published today in some newspapers that the tender offer has currently a specific price, the statement sent to the EGX on Monday said.

The company noted that the tender offer price will be determined by the independent financial advisor registered with the FRA pursuant to the Article 337 of the Executive Regulations of the Capital Market Law.

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