{"id":570986,"date":"2020-04-26T04:01:15","date_gmt":"2020-04-26T04:01:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/americana-egypt-appoints-new-financial-adviser-to-conduct-valuation-ahead-of-adeptio-mto\/"},"modified":"2020-04-26T04:01:15","modified_gmt":"2020-04-26T04:01:15","slug":"americana-egypt-appoints-new-financial-adviser-to-conduct-valuation-ahead-of-adeptio-mto","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/americana-egypt-appoints-new-financial-adviser-to-conduct-valuation-ahead-of-adeptio-mto\/","title":{"rendered":"Americana Egypt appoints new financial adviser to conduct valuation ahead of Adeptio MTO"},"content":{"rendered":"<p><strong>M&A WATCH- Americana Egypt appoints new financial adviser to conduct <\/strong><strong>valuation ahead of Adeptio MTO:<\/strong> The Egyptian Company for International Tourism Projects (Americana Egypt) has selected an unnamed financial adviser to conduct a fair valuation of the company ahead of Adeptio\u2019s mandatory tender offer (MTO) for minority shares in the company, <a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/244243_1.pdf\">according to an EGX disclosure (pdf)<\/a>. The fair valuation is expected to be completed in 45 days before being submitted to the Financial Regulatory Authority (FRA) for approval. The news comes six months after the regulator rejected Adeptio\u2019s previous <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/20\/egypts-fra-to-adeptio-your-americana-mto-offer-shall-not-pass-6748\/\">EGP 3.9 per share<\/a> offer price, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90c5fe3a-1854-4dfd-926f-d60286d98fd7\">suspended its financial advisor FinCorp for three months<\/a> because of its \u201cunfair\u201d fair value assessment.<\/p>\n<p><strong>Background:<\/strong> The <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/06\/americanas-adeptio-to-challenge-fra-rejection-of-mto-related-appeal-before-court\/\">FRA ordered Adeptio to submit an MTO<\/a> to buy shares in Americana Egypt in early 2019, after they gained indirect ownership of the majority of the company due to acquiring a 67% stake in Kuwait Food Company (Americana) in June 2016. Adeptio claimed that did not require an MTO submission, but after a few rejected appeals submitted an initial offer price of EGP 3.9 per share based on Fincorp\u2019s study. Americana\u2019s minority shareholders signaled they would only be satisfied with an offer in the range of <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/07\/america-egypt-minority-shareholders-call-for-egp-24-share-price-in-disputed-mto\/\">EGP 24 per share<\/a>, and <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/04\/americana-minority-shareholders-demand-adeptio-revalue-the-company-7710\/\">demanded that Adeptio revalue the company<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- Americana Egypt appoints new financial adviser to conduct valuation ahead of Adeptio MTO: The Egyptian Company for International Tourism Projects (Americana Egypt) has selected an unnamed financial adviser to conduct a fair valuation of the company ahead of Adeptio\u2019s mandatory tender offer (MTO) for minority shares in the company, according to an EGX [&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":[4506,102,72,76,4391,7128,2380,4986],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570986","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-adeptio","tag-capital-markets","tag-enterpriseam","tag-financial-regulatory-authority","tag-fincorp","tag-ma-watch","tag-speed-round","tag-the-egyptian-company-for-international-tourism-projects","wpautop","entry"],"acf":{"mongo_id":"265b9073-40a9-4254-8679-e1d1783ae28f","is_powered_by":true,"section_story_id":"9e851278-c9cd-40f6-a617-31e96a55f944","story_type":"1","photo_url":"","photo_position":"above","related_issue":[570976],"teaser":"","voice_url":""},"yoast_head":"<!-- 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tender offer (MTO) for its acquisition of a minority stake in the Egyptian International Tourism Projects Company\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":601649,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/06\/americanas-adeptio-to-challenge-fra-rejection-of-mto-related-appeal-before-court\/","url_meta":{"origin":570986,"position":1},"title":"Americana\u2019s Adeptio to challenge FRA rejection of MTO-related appeal before court","author":"enterpriseam admin","date":"6 March 2019","format":false,"excerpt":"M&A WATCH- Americana\u2019s Adeptio to challenge FRA rejection of its appeal against MTO decision: The Egyptian International Tourism Projects Company\u2019s (Americana Egypt) main shareholder Adeptio AD Investments will challenge before an administrative court the Financial Regulatory Authority\u2019s (FRA) rejection of its appeal against an order to submit a mandatory tender\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":569952,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/12\/market-regulator-mulls-moving-a-lawsuit-against-adeptio\/","url_meta":{"origin":570986,"position":2},"title":"Market regulator mulls moving a lawsuit against Adeptio","author":"enterpriseam admin","date":"12 March 2020","format":false,"excerpt":"DISPUTE WATCH- Market regulator mulls moving a lawsuit against Adeptio chairman: The Financial Regulatory Authority (FRA) is considering filing charges against Emaar chairman and Adeptio Investments head 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shareholders of the Egyptian International Tourism Projects Company (Americana Egypt) have filed a complaint with the Financial Regulation Authority demanding that Adeptio purchase shares based either on the company\u2019s net asset value or its market price over the past\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\/44.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602006,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/adeptio-challenges-egypts-fras-rejection-of-americana-mto-decision-appeal\/","url_meta":{"origin":570986,"position":5},"title":"Adeptio challenges Egypt\u2019s FRA\u2019s rejection of Americana MTO decision appeal","author":"enterpriseam admin","date":"17 March 2019","format":false,"excerpt":"M&A WATCH- Alabbar\u2019s Adeptio challenges FRA 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