ADI signs MoU with Sigma Capital ahead of merger

M&A WATCH- Al Ahly for Development and Investment (ADI) inked an MoU with Sigma Capital on Thursday to kickstart due diligence and the preparation of a fair value report ahead of a planned merger, according to a bourse filing (pdf). Last month, ADI’s board approved merger talks with Sigma Capital and set a deadline for 30 September to complete talks on the proposed transaction.