Sidpec postpones acquisition of ETHYDCO

Updated 9/21/2023 10:50:00 AM
Sidpec postpones acquisition of ETHYDCO

Arab Finance: Sidi Kerir Petrochemicals Company’s (Sidpec) board has agreed to postpone the acquisition of the Egyptian Ethylene and Derivatives Company (ETHYDCO), according to a filing sent to the Egyptian Exchange on September 21st.

The postponement will be until finalizing procedures for a strategic investor studying the acquisition of stake in ETHYDCO through the partial exit of some of the company’s shareholders.

On July 17th, Sidpec's board approved the financial evaluation study conducted on a proposal for the acquisition of ETHYDCO.

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