Marsa Marsa Alam for Tourism Development to make offer on 68% stake in El Badr Plastic

M&A WATCH- Marsa Alam for Tourism Development’s (MMATD) board approved an offer to acquire a 68% stake in El Badr Plastic Company, according to a bourse filing (pdf). The price tag of the acquisition, which will be presented to the Financial Regulatory Authority for approval, will be the average share price of El Badr over the past six months, according to the statement. We had noted back in February that El Ahram Printing & Packaging (EPPK) — a subsidiary of MMATD — is in talks to buy a 32% stake in El Badr. EPPK already owns 0.15% of El Badr through a subsidiary.