Egypt’s Pioneers Holding raises stake in Electro Cable Co. to 68.14%

M&A WATCH- Pioneers Holding raises stake in Electric Cable Co. to 68.14% after acquisition goes through: Pioneers Holding has, through three of its subsidiaries, raised its effective stake in Electric Cable Egypt to 68.14%, up from 48.5%, via a mandatory tender offer, Pioneers said in a regulatory filing (pdf). Three of Pioneers Holding’s subsidiaries, Summu Investment, Wadi Investment (which is 99.98% owned by Pioneers), and Flourish Investment, had submitted the MTO for 41.46% of Electric Cable.