Alexandria National receives EGP 7.48/shr acquisition deal
Updated 2/15/2021 1:07:12 PM
ArabFinance: Alexandria National Company for Financial Investment (ANFI) received an acquisition offer from an alliance led by Ahmed El-Sabea at EGP 7.48 per share, according to the company’s statement to the Egyptian Exchange on February 15th.
The alliance, comprised of Wise Financial Advisors and the Saudi investor Mostafa Al Hamidan, offered to acquire from 75% to 90% of the company’s shares.
Earlier, the company received an offer from Zeta Investment, an Emirati company, to acquire 90% of the company's stocks at EGP 5.51 per share.
Last month, the company received a similar offer from Zaldi Capital to acquire 90% of the former’s capital at EGP 5.50 per share.
In December 2020, Alexandria National Company has received a purchasing offer from a group of investors represented by Ahmed Farouk to acquire 84.99% of the company's capital.
The company turned to profit during the first nine months of 2020, achieving a net profit of EGP 5.93 million.
Abu Dhabi Islamic Bank owns 84.99% of direct and indirect stake in Alexandria National Company.
