{"id":568932,"date":"2020-02-09T04:15:55","date_gmt":"2020-02-09T04:15:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/09\/egyptian-competition-authority-probes-cairo-3as-bid-to-acquire-starch-and-glucose-company\/"},"modified":"2020-02-09T04:15:55","modified_gmt":"2020-02-09T04:15:55","slug":"egyptian-competition-authority-probes-cairo-3as-bid-to-acquire-starch-and-glucose-company","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/09\/egyptian-competition-authority-probes-cairo-3as-bid-to-acquire-starch-and-glucose-company\/","title":{"rendered":"Egyptian Competition Authority probes Cairo 3A\u2019s bid to acquire Starch and Glucose Company"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>M&A WATCH- ECA probing Cairo 3A\u2019s bid to acquire majority stake in Starch and Glucose <\/strong><strong>Company: <\/strong>The Egyptian Competition Authority (ECA) has asked for details on a bid by commodities and poultry trader Cairo 3A to acquire a major stake in the Egyptian Starch and Glucose Company\u2019s (ESGC) before greenlighting the transaction, <a href=\"https:\/\/alborsaanews.com\/2020\/02\/08\/1293848\">the local press reports<\/a>, citing government sources. The acquisition would give Cairo 3A a larger share of the market, but would not surpass ECA limits, the sources added. A meeting will be held with company and ECA executives to weigh the potential negative effects on competition, sources close to the transaction said.<\/p>\n<p><strong>The news comes as the ECA continues to lobby for the legal authority to probe any M&A <\/strong><strong>worth more than EGP 100 mn. <\/strong>The authority most recently said on Thursday that it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3af798f4-7695-4a7a-803d-22e70b19121b\">objected to a proposed (and as-yet undisclosed) merger<\/a> of Alameda Healthcare and Cleopatra Hospitals Group.<\/p>\n<p><strong>Background: <\/strong>Cairo 3A is moving ahead to acquire the entirety of Egyptian International Tourism Projects Company\u2019s (Americana Egypt) 23.2% stake, Americana Egypt\u2019s parent company Americana Group\u2019s 41% stake, and Cairo Poultry\u2019s 27.3% share. The company <a href=\"https:\/\/ent.news\/2020\/2\/239320_1.pdf\">offered to buy<\/a> the combined 45.8 mn shares for EGP 8.99-10.18 apiece, valuing the 91.5% stake at EGP 450-510 mn. All three major shareholders\u2019 boards of directors <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33ad9f2e-2a27-43be-a48e-fb01349929fb\">accepted the offers<\/a> shortly after Cairo 3A submitted it last week. Cairo 3A said it will conduct due diligence, which will be completed by 9 April, then make a mandatory tender offer by 12 April.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- ECA probing Cairo 3A\u2019s bid to acquire majority stake in Starch and Glucose Company: The Egyptian Competition Authority (ECA) has asked for details on a bid by commodities and poultry trader Cairo 3A to acquire a major stake in the Egyptian Starch and Glucose Company\u2019s (ESGC) before greenlighting the transaction, the local press [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[3498,4496,549,4551,72,7128,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568932","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-antitrust-act","tag-cairo-3a","tag-egyptian-competition-authority","tag-egyptian-starch-and-glucose-company","tag-enterpriseam","tag-ma-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"eebf4ac5-1d4b-45c6-9c9f-b953d9756697","is_powered_by":true,"section_story_id":"01063767-581f-4d13-9fd0-0143a4406188","story_type":"1","photo_url":"","photo_position":"above","related_issue":[568924],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The MTO,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/226.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570600,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/07\/cairo-3a-nears-completion-of-due-diligence-on-egyptian-starch-glucose\/","url_meta":{"origin":568932,"position":1},"title":"Cairo 3A nears completion of due diligence on Egyptian Starch &#038; Glucose","author":"enterpriseam admin","date":"7 April 2020","format":false,"excerpt":"M&A WATCH- Cairo 3A is nearing completion of due diligence on the Egyptian Starch & Glucose Company: Cairo 3A\u2019s plans to complete due diligence on the Egyptian Starch & Glucose company are on track to be completed during the first half of April and remain unaffected by covid-19, Al Mal\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/61.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570735,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/13\/cairo-3a-gets-greenlight-to-purchase-egyptian-starch-glucose-from-shareholders\/","url_meta":{"origin":568932,"position":2},"title":"Cairo 3A gets greenlight to purchase Egyptian Starch &#038; Glucose from shareholders","author":"enterpriseam admin","date":"13 April 2020","format":false,"excerpt":"M&A WATCH- Cairo 3A gets seller approval on Egyptian Starch & Glucose (ESGC) acquisition: Egyptian International Tourism Projects Company (Americana Egypt), Americana Group and Cairo Poultry have all agreed to sell their stakes in ESGC to Cairo 3A at EGP 8.54 per share, according to EGX disclosures here, here, and\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568847,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/05\/egyptian-starch-and-glucose-company-approves-cairo-3a-acquisition-bid\/","url_meta":{"origin":568932,"position":3},"title":"Egyptian Starch and Glucose Company approves Cairo 3A acquisition bid","author":"enterpriseam admin","date":"5 February 2020","format":false,"excerpt":"M&A WATCH- Starch and Glucose Company approves Cairo 3A acquisition bid: The Egyptian Starch and Glucose Company\u2019s (ESGC) board of directors has greenlit Cairo 3A\u2019s bid to acquire all of Americana Group, Americana Egypt, and Cairo Poultry\u2019s shares in ESGC, according to a bourse disclosure (pdf). The three shareholders, which\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570844,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/fra-says-cairo-3a-will-have-to-pay-nearly-1-more-than-expected-to-acquire-egyptian-starch-glucose\/","url_meta":{"origin":568932,"position":4},"title":"FRA says Cairo 3A will have to pay nearly 1% more than expected to acquire Egyptian Starch &#038; Glucose","author":"enterpriseam admin","date":"16 April 2020","format":false,"excerpt":"M&A WATCH- Cairo 3A will have to pay nearly 1% more than expected to acquire Egyptian Starch & Glucose after the Financial Regulatory Authority (FRA)mandated an acquisition price of EGP 8.61 per share. The EGP 8.54 per share Cairo 3A had offered was below the average closing price in the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/155.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568788,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/americana-approves-cairo-3a-bid-to-acquire-its-stake-in-egyptian-starch-and-glucose\/","url_meta":{"origin":568932,"position":5},"title":"Americana approves Cairo 3A bid to acquire its stake in Egyptian Starch and Glucose","author":"enterpriseam admin","date":"4 February 2020","format":false,"excerpt":"M&A WATCH- Starch and Glucose Company shareholders approve Cairo 3A acquisition bid: The Egyptian International Tourism Projects Company (Americana Egypt) and Cairo Poultry yesterday approved an offer from Cairo 3A to purchase their holdings in the Egyptian Starch and Glucose Company (ESGC), according to three bourse disclosures (here and here\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/48.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568932","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=568932"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568932\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568924"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568932"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568932"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}