M&A WATCH- Egypt Kuwait Holding (EKH) has placed a mandatory tender offer for 66.97% of Delta Insurance’s shares at EGP 20 per share, the Financial Regulatory Authority told the EGX. The Authority says it is currently assessing the offer. EKH had announced it received approvals to increase its stake in Delta Insurance to 99%. Zaki Hashem & Partners is legal counsel on the transaction, EKH’s head of IR Haitham Abdel Moneim tells Al Mal. He added that the transaction is set to cost EKH around EGP 300 mn and will be financed internally from capital gains made from its divestment from Egypt Hydrocarbons. Pharos Holding told us they are the buy-side broker on the transaction.

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