Mondi Paper Sales buys stake in Suez Bags, prepares MTO

M&A WATCH- Heidelberg Cement subsidiaries Suez Cement and Tourah Cement have signed agreements to sell their respective stakes of 53.32% and 4.52% in Suez Bags to Mondi Paper Sales, according to bourse disclosures. Both sales were for EGP 26.01 per share and the transaction is contingent on board approvals. Once approved, Mondi will submit a request to the Financial Regulatory Authority to issue a mandatory tender offer for 100% of the shares in Suez Bags.