{"id":584359,"date":"2023-03-29T00:00:00","date_gmt":"2023-03-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/29\/this-evening-compass-capital-wraps-up-dd-on-pachin-china-isnt-happy-about-taiwans-president-meeting-with-us-house-speaker\/"},"modified":"2023-03-29T00:00:00","modified_gmt":"2023-03-29T00:00:00","slug":"this-evening-compass-capital-wraps-up-dd-on-pachin-china-isnt-happy-about-taiwans-president-meeting-with-us-house-speaker","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/29\/this-evening-compass-capital-wraps-up-dd-on-pachin-china-isnt-happy-about-taiwans-president-meeting-with-us-house-speaker\/","title":{"rendered":"THIS EVENING: Compass Capital wraps up DD on Pachin + China isn\u2019t happy about Taiwan\u2019s president meeting with US house speaker"},"content":{"rendered":"

Good afternoon, friends, and happy almost-THURSDAY.<\/span> As we approach the end of the<\/span> week \u2014 and the one-week mark since the beginning of Ramadan \u2014 our collective brain fog is starting to wear off. <\/span><\/p>\n

ALSO- Did you know you can bookmark stories to read later on <\/span>our newly relaunched<\/a><\/span>website?<\/a><\/span> Our new home on the web looks cool, loads fast, and has a raft of new features, from deep dives into topic pages, story tags to let you follow the issues and companies that matter most, to an audio feature so you can listen to our news on the go. <\/span>Have a suggestion or want to report a bug? Hit reply to this email.<\/span><\/p>\n

THE BIG STORY TODAY<\/span><\/p>\n

<\/span>Eagle Chemicals\u2019 rival bid for Pachin goes live tomorrow: <\/span>Eagle Chemicals\u2019 <\/span>mandatory tender offer (MTO) to acquire at least 75% of state-owned Paint and Chemical Industries (Pachin) will open tomorrow and run until market close on 12 April,<\/span> according to an <\/span>EGX statement<\/a><\/span> out today. Eagle Chemicals is offering EGP 37.00 per share, EGP 1.00 higher than the rival bid submitted by National Paints Holding (NPH) last week. The NPH offer \u2014 which had been set to close on 4 April \u2014 has been extended and will now wrap on the same date. <\/span><\/p>\n

Is Compass stepping back into the mix? <\/span>Compass Capital has<\/span> reportedly wrapped up due diligence on Pachin and is preparing to submit a rival MTO within days, <\/span>Al Mal<\/a><\/span> reports, citing unnamed sources it says are close to the matter.<\/span><\/p>\n

THE BIG STORY ABROAD<\/span><\/p>\n

China is threatening Taiwan over President Tsai Ing-wen\u2019s unconfirmed meeting with US<\/span> House Speaker Kevin McCarthy. <\/span>Mainland China sees the trip as a challenge and direct blow to the \u201cOne China\u201d mandate. If Ing-wen \u2014 who is on a 10-day trip to visit other countries on the continent \u2014 proceeds with the visit, it would be seen as <\/span>harmful to \u201cChina\u2019s sovereignty and territorial integrity,\u201d<\/a><\/span> an official from China\u2019s Taiwan Affairs Office has said, and <\/span>the mainland has warned it will retaliate<\/a><\/span>. Ing-wen meanwhile told reporters that China\u2019s <\/span>\u201dexternal pressure will not hinder [Taiwan\u2019s] determination to go global\u201d<\/a><\/span>; Taiwan is calm and is neither giving in to intimidation nor is it intending to incite a reaction from China. A US government official stated that the threats are nothing more than an overreaction and a pretext for warmongering. <\/span><\/p>\n

The story is featured in the global press today:<\/span>The Guardian<\/a><\/span> | <\/span>Financial Times<\/a><\/span> | <\/span>Reuters<\/a><\/span> | <\/span>Al Jazeera<\/a><\/span>| <\/span>Bloomberg<\/a><\/span> | <\/span>Ahram Online<\/a><\/span><\/p>\n

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** CATCH UP QUICK<\/span> on the top stories from today\u2019s <\/span>EnterpriseAM<\/span>:<\/span><\/p>\n