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News Egyptian Financial Regulatory Authority approves Suez Cement’s Tourah Portland Cement acquisition

Egyptian Financial Regulatory Authority approves Suez Cement’s Tourah Portland Cement acquisition

Written by Global Cement staff 19 October 2020
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Egypt: The Financial Regulatory Authority (FRA) has approved HeidelbergCement and Simon France subsidiary Suez Cement’s mandatory tender offer (MTO) for acquisition of a 100% stake in Egyptian Tourah Portland Cement for US$32.7m. Daily News Egypt has reported that the FRA also approved a change to Suez Cement’s ownership, with HeidelbergCement France acquiring a 33% stake in the company.

Last modified on 21 October 2020
Published in Global Cement News
Tagged under
  • Egypt
  • Financial Regulatory Authority
  • Competition
  • approval
  • Suez Cement
  • Tourah Cement
  • HeidelbergCement
  • corporate
  • Simon France
  • GCW478
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