M&A WATCH- Pioneers Holding approves fair value study for its five-way MTO: Pioneers Holding has approved a fair value study by the recently hired Financial Advice Corporate Transactions (FACT) as a prelude to acquiring new stakes in five of its subsidiaries,according to a regulatory filing (pdf). Pioneers will make non-cash mandatory tender offers to increase its shares to 90% in five companies, including two real estate developers, two contracting arms, and one electric cables manufacturer.

Advisors: The company had hired UHY United as a financial advisor and Baker McKenzie as legal advisor for the potential transaction. CEO Walid Zaki had said that the company intends to complete the process by the end of the year.

Tags: