{"id":595823,"date":"2019-08-07T04:00:26","date_gmt":"2019-08-07T04:00:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/07\/america-egypt-minority-shareholders-call-for-egp-24-share-price-in-disputed-mto\/"},"modified":"2019-08-07T04:00:26","modified_gmt":"2019-08-07T04:00:26","slug":"america-egypt-minority-shareholders-call-for-egp-24-share-price-in-disputed-mto","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/07\/america-egypt-minority-shareholders-call-for-egp-24-share-price-in-disputed-mto\/","title":{"rendered":"America Egypt minority shareholders call for EGP 24 share price in disputed MTO"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <b>DISPUTE WATCH- Americana Egypt minority shareholders call for EGP 24 share price in disputed MTO: <\/b>Minority shareholders of Americana Egypt are asking for a share price determined in a 2016 valuation of the company in a planned mandatory tender offer (MTO) by majority shareholder Adeptio AD Investments, sources close to the matter <a href=\"https:\/\/almalnews.com\/%d8%aa%d8%b3%d8%b9%d9%8a%d8%b1-%d8%b9%d8%b1%d8%b6-%d8%b4%d8%b1%d8%a7%d8%a1-%d8%a3%d8%af%d9%8a%d8%a8%d8%aa%d9%8a%d9%88-%d8%b9%d9%84%d9%89-%d8%a3%d9%85%d8%b1%d9%8a%d9%83%d8%a7%d9%86\/\">told Al Mal<\/a>. The 2016 acquisition valued the company\u2019s share price at EGP 24, a figure seen by the minority shareholders as close to the share\u2019s real value.<\/p>\n<p><b>Why the old valuation? <\/b>Minority shareholder Hatem Sultan told <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/01\/americana-egypts-minority-shareholders-reject-adeptio-ads-buyout-offer\/\">the local press<\/a> last week that, after the 2016 acquisition agreement, Adeptio made a few undisclosed internal and structural decisions that may have impacted the company\u2019s value. He made it clear that they will continue their fight with the company until it makes a \u201csuitable offer.\u201d The minority shareholders wrote to the FRA relaying their views after it emerged that Adeptio is planning to conduct a new fair value estimation of the share price. Adeptio said it \u201cwould take into account\u201d the recent acquisition in the new valuation, which is expected to be revealed in early 4Q2019.<\/p>\n<p><b>Background: <\/b>Adeptio, which is led by Emirati businessman Mohamed Alabbar, acquired in 2016, 67% of Americana Egypt\u2019s parent company, Kuwait Food Company (Americana), over a two-year process. This resulted in Adeptio controlling some 90% of the subsidiary\u2019s shares, and prompted an <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/06\/americanas-adeptio-to-challenge-fra-rejection-of-mto-related-appeal-before-court\/\">FRA-ordered MTO<\/a> to purchase the remaining shares. Adeptio submitted an appeal against the order, which the FRA promptly rejected. It then challenged the appeal\u2019s rejection at an economic court, but had its <a href=\"https:\/\/www.marketscreener.com\/EGYPTIAN-CO-FOR-INTL-TOUR-20701773\/news\/Egyptian-for-Intl-Touristic-Projects-Americana-profits-ebb-to-LE5-m-ending-Dec-2017-26020263\/\">claims dismissed<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DISPUTE WATCH- Americana Egypt minority shareholders call for EGP 24 share price in disputed MTO: Minority shareholders of Americana Egypt are asking for a share price determined in a 2016 valuation of the company in a planned mandatory tender offer (MTO) by majority shareholder Adeptio AD Investments, sources close to the matter told Al Mal. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":595824,"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":[957,72,7128,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-dispute-watch","tag-enterpriseam","tag-ma-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d8e3fddb-d412-448f-9817-f701997b1f48","is_powered_by":true,"section_story_id":"69be6764-5956-4ec6-86dd-4c43bf359348","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/44.jpg","photo_position":"above","related_issue":[595814],"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>America Egypt minority shareholders call for EGP 24 share price in disputed MTO - 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\/2019\/08\/07\/america-egypt-minority-shareholders-call-for-egp-24-share-price-in-disputed-mto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"America Egypt minority shareholders call for EGP 24 share price in disputed MTO\" \/>\n<meta property=\"og:description\" content=\"DISPUTE WATCH- Americana Egypt minority shareholders call for EGP 24 share price in disputed MTO: Minority shareholders of Americana Egypt are asking for a share price determined in a 2016 valuation of the company in a planned mandatory tender offer (MTO) by majority shareholder Adeptio AD Investments, sources close to the matter told Al Mal. 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revalue the company: Minority 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":572852,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/12\/americana-egypt-shareholders-approve-adeptio-offer-price\/","url_meta":{"origin":595823,"position":1},"title":"Americana Egypt shareholders approve Adeptio offer price","author":"enterpriseam admin","date":"12 July 2020","format":false,"excerpt":"M&A WATCH- Americana Egypt shareholders approve Adeptio offer price as market regulator approves share value methodology: Minority shareholders in Americana Egypt have approved Adeptio\u2019s offer price of EGP 6.32 per share under a proposed mandatory tender offer (MTO), the local press reports, citing informed sources. This came after the Financial\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\/7\/76.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593101,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/americana-egypt-minority-shareholders-turn-down-adeptios-offer-price\/","url_meta":{"origin":595823,"position":2},"title":"Americana Egypt minority shareholders turn down Adeptio's offer price","author":"enterpriseam admin","date":"18 November 2019","format":false,"excerpt":"M&A WATCH- Americana minority shareholders turn down Adeptio's offer price: Minority shareholders in the Egyptian International Tourism Projects Company (Americana) have rejected Adeptio's mandatory tender offer (MTO), which offered to buy Americana\u2019s shares at EGP 3.9 apiece, according to Al Mal. The offer price is much lower than the EGP\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":570986,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/americana-egypt-appoints-new-financial-adviser-to-conduct-valuation-ahead-of-adeptio-mto\/","url_meta":{"origin":595823,"position":3},"title":"Americana Egypt appoints new financial adviser to conduct valuation ahead of Adeptio MTO","author":"enterpriseam admin","date":"26 April 2020","format":false,"excerpt":"M&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\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":601811,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/americana-minority-shareholders-ask-fra-to-file-lawsuit-against-alabbar\/","url_meta":{"origin":595823,"position":4},"title":"Americana minority shareholders ask FRA to file lawsuit against Alabbar","author":"enterpriseam admin","date":"11 March 2019","format":false,"excerpt":"M&A WATCH- Americana\u2019s minority shareholders ask FRA to compel MTO bid by Alabbar: Minority shareholders of Egyptian International Tourism Projects Company (Americana Egypt) are demanding that the Financial Regulatory Authority (FRA) take legal action to compel a company led by Emirati business figure Mohamed Alabbar to make 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":591518,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/adeptio-calls-on-investment-minister-to-intervene-in-americana-egypt-dispute\/","url_meta":{"origin":595823,"position":5},"title":"Adeptio calls on investment minister to intervene in Americana Egypt dispute","author":"enterpriseam admin","date":"9 December 2019","format":false,"excerpt":"M&A WATCH- Adeptio wants Sahar Nasr to intervene in Americana dispute: Adeptio has appealed to Investment Minister Sahar Nasr to intervene in its ongoing dispute with the Egyptian International Tourism Projects Company\u2019s (Americana Egypt) minority shareholders, Al Mal reports. The Gulf-based investment consortium wants Nasr to overturn the Financial Regulatory\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\/595823","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=595823"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595823\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595824"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595823"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595823"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}