Arab Finance: Sidi Kerir Petrochemicals Company’s (Sidpec) board has approved the financial evaluation study conducted on a proposal for the acquisition of the Egyptian Ethylene and Derivatives Company (ETHYDCO) via share swap, Sidpec stated on July 17th.
The board has also accredited the deal, giving initial approval to the terms of the share swap.
Furthermore, the board has greenlit a proposal for an issued and paid-up capital increase by up to 876.905 million shares to be used for the share swap with ETHYDCO.