Americana minority shareholders ask FRA to file lawsuit against Alabbar

M&A WATCH- Americana’s minority shareholders ask FRA to compel MTO bid by Alabbar: Minority shareholders of Egyptian International Tourism Projects Company (Americana Egypt) are demanding that the Financial Regulatory Authority (FRA) take legal action to compel a company led by Emirati business figure Mohamed Alabbar to make a mandatory tender offer for the Americana Egypt’s shares, Al Mal reports. Alabbar controls Adeptio AD Investment, the largest shareholder in Americana. Adeptio had said it will challenge before an administrative court the FRA’s rejection of its appeal against the MTO. Adeptio argues that its indirect ownership of Americana Egypt is less than 90% of its total capital and therefore does not require an MTO submission.