Ezz Steel board approves selling its shares in Ezz Rolling Mills to Ezz Dekheila

M&A WATCH- Ezz Steel board approves selling its shares in Ezz Rolling Mills to Ezz Dekheila: Ezz Steel’s board of directors has signed off on selling north of 88 mn of its shares in Ezz Rolling Mills (ERM) through a share swap with Ezz Dekheila Steel, the parent company said in a disclosure to the bourse (pdf). The transaction will see 51 shares of ERM swapped for every Ezz Dekheila share. Ezz Dekheila had presented a mandatory tender offer to acquire 100% of ERM earlier this month, which the FRA greenlit.