Mondi applies for FRA approval of MTO to acquire Suez Bags

M&A WATCH- Mondi Paper Sales applied for Financial Regulatory Authority (FRA) approval of a mandatory tender offer to acquire the remaining 70.1% stake in Suez Bags, according to a FRA statement on Sunday (pdf). Mondi plans to acquire 7.7 mn shares for for EGP 26.01 per share, valuing the transaction at EGP 199.4 mn. FRA is currently looking into the request, the statement said.