EPPK in talks to buy 32% of El Badr Plastic

M&A WATCH- El Ahram Printing & Packaging (EPPK) is in talks to buy a 32% stake in the El Badr Plastic Company, according to a company disclosure. The two companies are drafting an MoU to greenlight the negotiations. EPPK already owns 0.15% of El Badr through a subsidiary.

The announcement was followed by the revelation that El Nessim for Trading had attempted to raise its equity stake in EPPK to 10% from 7.84% on Thursday. The EGX had blocked the transaction, according to a bourse filing from EPPK (pdf).