{"id":549272,"date":"2022-09-11T04:00:37","date_gmt":"2022-09-11T04:00:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/expedition-investments-ups-by-10-what-its-willing-to-pay-for-domty\/"},"modified":"2022-09-11T04:00:37","modified_gmt":"2022-09-11T04:00:37","slug":"expedition-investments-ups-by-10-what-its-willing-to-pay-for-domty","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/expedition-investments-ups-by-10-what-its-willing-to-pay-for-domty\/","title":{"rendered":"Expedition Investments ups by 10% what it\u2019s willing to pay for Domty"},"content":{"rendered":"

<\/a> Domty shareholders will get a little more for selling to Expedition Investments<\/strong>:<\/strong> The Expedition Investments-led consortium bidding to acquire 34% of cheesemaker Domty has upped its offer by 10% on the heels of a fair value study that suggested the bid had undervalued the company. The consortium is now offering to purchase shares for EGP 5.50 apiece in the ongoing mandatory tender offer, up from EGP 5.00 before, the Financial Regulatory Authority said in a disclosure (pdf)<\/a> on Thursday.<\/p>\n

It\u2019s an adjustment, but it\u2019s still below the fair value assessment:<\/strong> The revised offer came a day after BDO valued the company\u2019\u2019s shares at EGP 6.90 each<\/a> \u2014 38% higher than the price offered to shareholders. A week ago, the company was half-way to its target, with shareholders having agreed to sell 40.5 mn shares.<\/p>\n

What happens now? <\/strong>Shareholders have until Wednesday<\/a> to sell their holdings to the consortium. It\u2019s unclear whether the board will now publicly respond to the offer or make a recommendation to the shareholders.<\/p>\n

REMEMBER- Domty\u2019s majority shareholders are among the investors bidding for the shares: <\/strong>The Damati family \u2014 which founded Domty and already control 56% of the company \u2014 are part of the consortium and also own minority stakes in Expedition. Expedition, a special purpose vehicle domiciled in Mauritius, is controlled by investors in Egypt and the Gulf. Success in the MTO would hand the consortium control of 90% of the company\u2019s shares.<\/p>\n

Advisors: <\/strong>EFG Hermes is quarterbacking the transaction and Matouk Bassiouny & Hennawy is acting as counsel to Expedition.<\/p>\n","protected":false},"excerpt":{"rendered":"

Domty shareholders will get a little more for selling to Expedition Investments: The Expedition Investments-led consortium bidding to acquire 34% of cheesemaker Domty has upped its offer by 10% on the heels of a fair value study that suggested the bid had undervalued the company. The consortium is now offering to purchase shares for EGP […]<\/p>\n","protected":false},"author":1,"featured_media":549273,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[1598,72,1623,76,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-domty","tag-enterpriseam","tag-expedition-investments","tag-financial-regulatory-authority","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"7a63ba68-ee41-491f-8ac1-93b887152970","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/181.jpg","photo_position":"above","related_issue":[549264],"teaser":"","voice_url":""},"yoast_head":"\nExpedition Investments ups by 10% what it\u2019s willing to pay for Domty - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/expedition-investments-ups-by-10-what-its-willing-to-pay-for-domty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expedition Investments ups by 10% what it\u2019s willing to pay for Domty\" \/>\n<meta property=\"og:description\" content=\"Domty shareholders will get a little more for selling to Expedition Investments: The Expedition Investments-led consortium bidding to acquire 34% of cheesemaker Domty has upped its offer by 10% on the heels of a fair value study that suggested the bid had undervalued the company. 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Shareholders in cheesemaker Domty have until Wednesday, 14 September to sell their shares to Expedition Investments, as part of its mandatory tender offer (MTO) for 34% of the company, according to the timeline set by the EGX\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548669,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/17\/expedition-investments-bid-for-domty-gets-fra-approval\/","url_meta":{"origin":549272,"position":1},"title":"Expedition Investments\u2019 bid for Domty gets FRA approval","author":"enterpriseam admin","date":"17 August 2022","format":false,"excerpt":"The Financial Regulatory Authority (FRA) has greenlit Expedition Investments\u2019 bid to acquire a 34% stake in cheesemaker Domty, the regulator said in a disclosure (pdf) yesterday. A consortium led by Expedition has offered to purchase up to 96.2 mn shares for EGP 5 a piece in a mandatory tender offer,\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/292.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549396,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/expedition-investments-consortium-acquires-33-of-domty\/","url_meta":{"origin":549272,"position":2},"title":"Expedition Investments consortium acquires 33% of Domty","author":"enterpriseam admin","date":"15 September 2022","format":false,"excerpt":"Expedition bags (almost) all of its targeted shares in Domty: Shareholders in EGX-listed Domty agreed to sell 93.0 mn shares to a consortium of investors led by Expedition Investments in a mandatory tender offer that closed yesterday, according to an EGX bulletin. That\u2019s 97% of the 96.2 mn shares the\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/228.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549197,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/expeditions-offer-undervalues-cheese-maker-domty-by-38-fair-value-study-suggests\/","url_meta":{"origin":549272,"position":3},"title":"Expedition\u2019s offer undervalues cheese maker Domty by 38%, fair value study suggests","author":"enterpriseam admin","date":"7 September 2022","format":false,"excerpt":"BDO has valued Domty at EGP 6.90 per share \u2014 38% higher than the price that the Expedition Investments-led consortium is offering shareholders in its ongoing mandatory tender offer, the cheesemaker said in an EGX disclosure (pdf) yesterday.REFRESHER- Shareholders have until 14 September to sell their holdings to the consortium,\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/144.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547702,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/04\/expedition-investments-submits-bid-for-34-stake-in-domty\/","url_meta":{"origin":549272,"position":4},"title":"Expedition Investments submits bid for 34% stake in Domty","author":"enterpriseam admin","date":"4 July 2022","format":false,"excerpt":"Expedition Investments has submitted an official bid to acquire a 34% stake in cheesemaker Domty, the Financial Regulatory Authority (FRA) said in a disclosure to the EGX(pdf) yesterday. The consortium has offered to purchase up to 96.2 mn shares for EGP 5 a piece in a mandatory tender offer, the\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/105.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549603,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/expedition-investments-consortium-completes-domty-acquisition\/","url_meta":{"origin":549272,"position":5},"title":"Expedition Investments consortium completes Domty acquisition","author":"enterpriseam admin","date":"22 September 2022","format":false,"excerpt":"Domty acquisition finalized: A consortium of investors led by Expedition Investments received a 32.9% stake (93.0 mn shares) for EGP 511.6 mn, according to a notice on the EGX yesterday. Their mandatory tender offer for up to 34% of the cheesemaker closed last week.CFC Group project gets cabinet approval: Cabinet\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549272"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549272\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549264"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549273"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549272"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549272"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}