M&A WATCH- The bidding war for National Company for Maize Products (NCMP) looks to intensify this week amid expectations of a mandatory tender offer by EK Holding subsidiary International Financial Investments Company (IFIC) for the maker of sweeteners and food additives. The company is expected to hold a meeting to discuss the MTO this week ahead of presenting the official offer to the Egyptian Financial Supervisory Authority for approval, sources tell Al Borsa. This follows a meeting between both companies last week to discuss a fair value report on NCMP. This would follow competing MTOs presented by Cairo Three A Group and Archer Daniels Midland (ADM)’s Swiss unit for a 42.96% stake in the company. The three are also facing off against Al Mona Misr (a local affiliate of global commodities giant Louis Dreyfus; Al Mona says it is not acting on Dreyfus’ behalf). Pharos Holding is sell-side advisor to Misr Capital Investment for the transaction, while Al Tamimi & Co. is legal advisor. EFG Hermes is advising ADM, CI Capital is advising Cairo Three A, and Al Mona is being advised by Pioneers.

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