Univert’s majority shareholder seeks FRA approval to purchase remaining stake

Univert Food Industries’ majority shareholder Mohammed Ahmad Basamh is seeking approval from the Financial Regulatory Authority (FRA) to make a mandatory offer to purchase 100% of the company, according to a company release (pdf). Basamh, who owns 60.1% of the company, is looking to purchase the remaining 39.9% at EGP 1.00 per share.