{"id":570600,"date":"2020-04-07T04:29:13","date_gmt":"2020-04-07T04:29:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/07\/cairo-3a-nears-completion-of-due-diligence-on-egyptian-starch-glucose\/"},"modified":"2020-04-07T04:29:13","modified_gmt":"2020-04-07T04:29:13","slug":"cairo-3a-nears-completion-of-due-diligence-on-egyptian-starch-glucose","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/07\/cairo-3a-nears-completion-of-due-diligence-on-egyptian-starch-glucose\/","title":{"rendered":"Cairo 3A nears completion of due diligence on Egyptian Starch &#038; Glucose"},"content":{"rendered":"<p><strong>M&A WATCH-<\/strong> <strong>Cairo 3A is nearing completion of due diligence on the Egyptian <\/strong><strong>Starch & Glucose Company: <\/strong>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, <a href=\"https:\/\/bit.ly\/2JKJMYM\">Al Mal reports<\/a>, citing sources familiar with the agreement. The poultry and commodities trader, which is looking to acquire a 91.5% stake in the company, had previously said that it would finish its due diligence by 9 April and make a mandatory tender offer by 12 April. Cairo 3A offered to buy the combined 45.8 mn shares for EGP 8.99-10.18 apiece ahead of starting due diligence, valuing the stake at EGP 450-510 mn.<\/p>\n<p><strong>Cairo Poultry\u2019s general assembly signed off on the transaction yesterday<\/strong>, <a href=\"https:\/\/egx.com.eg\/downloads\/Bulletins\/243259_1.pdf\">according to a bourse disclosure (pdf)<\/a>. The company has indicated willingness to sell its stake in the Egyptian Starch & Glucose company at whatever fair share price within the EGP 8.99 - EGP 10.18 range that Cairo 3A determines through due diligence.<\/p>\n<p><strong>So far, so good with Egypt\u2019s competition watchdog: <\/strong>The source also added that Cairo 3A has been in full compliance with the Egyptian Competition Authority\u2019s (ECA) probe into the acquisition <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eebf4ac5-1d4b-45c6-9c9f-b953d9756697\">earlier this year<\/a> and has yet to receive any objections following the provision of all requested paperwork.<\/p>\n<p><strong>Background: <\/strong>Cairo 3A <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/641fabe8-5c44-4010-a24b-72a1074b4068\">earlier this year began its bid<\/a> to purchase shares in Egypt Starch & Glucose held by three major shareholders: a 23.2% stake held by Egyptian International Tourism Projects Company (Americana Egypt), Americana Egypt\u2019s parent company Americana Group\u2019s 41% stake, and Cairo Poultry\u2019s 27.3% stake. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33ad9f2e-2a27-43be-a48e-fb01349929fb\">Egyptian Starch & Glucose<\/a> and the board of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e7d7d4a-f9fc-4a93-9fb5-0346e5b8c799\">all three shareholders<\/a> approved the offer shortly after Cairo 3A declared its bid.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- Cairo 3A is nearing completion of due diligence on the Egyptian Starch &#038; Glucose Company: Cairo 3A\u2019s plans to complete due diligence on the Egyptian Starch &#038; Glucose company are on track to be completed during the first half of April and remain unaffected by covid-19, Al Mal reports, citing sources familiar with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":570601,"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":[2363,1787,4496,2125,549,4912,4913,72,7128,10320,2380,7096],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-americana-egypt","tag-americana-group","tag-cairo-3a","tag-cairo-poultry","tag-egyptian-competition-authority","tag-egyptian-international-tourism-projects-company","tag-egyptian-starch-glucose-company","tag-enterpriseam","tag-ma-watch","tag-share","tag-speed-round","tag-stake","wpautop","entry"],"acf":{"mongo_id":"cde29f22-3127-40e1-b928-bf79cfa92ef0","is_powered_by":true,"section_story_id":"27ec0299-b9cb-4e38-b0ac-85fe8a128122","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/4\/61.jpg","photo_position":"above","related_issue":[570588],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cairo 3A nears completion of due diligence on Egyptian Starch &amp; 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Glucose","author":"enterpriseam admin","date":"9 April 2020","format":false,"excerpt":"M&A WATCH- Cairo 3A makes final offer for Egyptian Starch & Glucose at EGP 8.54\/share: The three majority stakeholders in the Egyptian Starch & Glucose company \u2014 the Egyptian International Tourism Projects Company (Americana Egypt), Americana Egypt\u2019s parent company Americana Group, and Cairo Poultry \u2014 have received an offer from\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\/91.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":570600,"position":1},"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":[]},{"id":568761,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/03\/cairo-3a-bids-for-americanas-stake-in-egyptian-starch-and-glucose\/","url_meta":{"origin":570600,"position":2},"title":"Cairo 3A bids for Americana's stake in Egyptian Starch and Glucose","author":"enterpriseam admin","date":"3 February 2020","format":false,"excerpt":"M&A WATCH- Cairo 3A bids for 91.5% stake in Egyptian Starch and Glucose: Cairo 3A has made an offer to buy 45.8 mn shares held by three major shareholders in the Egyptian Starch and Glucose Company, according to a bourse disclosure (pdf). The poultry and commidities trader offered to buy\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":570600,"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":568932,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/09\/egyptian-competition-authority-probes-cairo-3as-bid-to-acquire-starch-and-glucose-company\/","url_meta":{"origin":570600,"position":4},"title":"Egyptian Competition Authority probes Cairo 3A\u2019s bid to acquire Starch and Glucose Company","author":"enterpriseam admin","date":"9 February 2020","format":false,"excerpt":"M&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\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":571445,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/cairo-3a-closes-egp-420-mn-acquisition-of-egyptian-starch-glucose\/","url_meta":{"origin":570600,"position":5},"title":"Cairo 3A closes EGP 420 mn acquisition of Egyptian Starch &#038; Glucose","author":"enterpriseam admin","date":"12 May 2020","format":false,"excerpt":"M&A WATCH- Cairo 3A closes EGP 420 mn acquisition of Egyptian Starch & Glucose after successful MTO: Cairo 3A has closed its acquisition of a 97.5% stake in Egyptian Starch & Glucose Company (ESGC), said Hassan Samir Farid, the managing director of Prime Securities, which acted as a broker on\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570600","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=570600"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570600\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/570588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/570601"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=570600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=570600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=570600"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=570600"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=570600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}