{"id":597500,"date":"2019-07-29T03:49:47","date_gmt":"2019-07-29T03:49:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/29\/adeptio-requests-fra-approval-to-buy-out-americana-egypt-minority-shareholders\/"},"modified":"2019-07-29T03:49:47","modified_gmt":"2019-07-29T03:49:47","slug":"adeptio-requests-fra-approval-to-buy-out-americana-egypt-minority-shareholders","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/29\/adeptio-requests-fra-approval-to-buy-out-americana-egypt-minority-shareholders\/","title":{"rendered":"Adeptio requests FRA approval to buy out Americana Egypt minority shareholders"},"content":{"rendered":"<p><b>M&A WATCH- Adeptio requests regulatory approval to buy out American Egypt minority shareholders:<\/b> Adeptio AD Investments has submitted a request to the Financial Regulatory Authority (FRA) for its approval to buy out minority shareholders in the Egyptian International Tourism Projects Company (Americana Egypt) through one its subsidiaries, Adeptio said in <a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D8%A7%D9%85%D8%B1%D9%8A%D9%83%D8%A7%D9%86%D8%A7%20%D8%A8%D9%8A%D8%A7%D9%8628-07-2019.pdf\">a statement to the EGX (pdf)<\/a>. The company said it will \u201ccomply with all capital market regulations in Egypt including a tender offer for [Americana Egypt\u2019s] listed shares as applicable.\u201d Adeptio, which is led by Emirati business figure Mohamed Alabbar, is already the main shareholder in Americana Egypt.<\/p>\n<p><b>Background:<\/b> Adeptio had acquired 67% in Kuwait Food Company (Americana) in June 2016 following a two-year process, giving it indirect ownership of the majority of American Egypt. The FRA had ordered Adeptio to submit a mandatory tender offer (MTO) to buy the remaining shares in Americana Egypt <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/06\/americanas-adeptio-to-challenge-fra-rejection-of-mto-related-appeal-before-court\/\">earlier this year<\/a>, but Adeptio had argued that its indirect ownership in the company is less than 90% of its total capital and therefore does not require an MTO submission. Adeptio submitted an appeal against the order, which the FRA promptly rejected. The company then filed a suit with an economic court challenging the FRA\u2019s rejection, but the court also <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\/\">dismissed the appeal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- Adeptio requests regulatory approval to buy out American Egypt minority shareholders: Adeptio AD Investments has submitted a request to the Financial Regulatory Authority (FRA) for its approval to buy out minority shareholders in the Egyptian International Tourism Projects Company (Americana Egypt) through one its subsidiaries, Adeptio said in a statement to the 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":[4506,2363,72,76,7128,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597500","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-adeptio","tag-americana-egypt","tag-enterpriseam","tag-financial-regulatory-authority","tag-ma-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"207adfca-d187-4a8c-8953-fb2003233701","is_powered_by":true,"section_story_id":"633f151e-c02c-4eab-8cf6-ce76f57c4d70","story_type":"1","photo_url":"","photo_position":"above","related_issue":[597486],"teaser":"","voice_url":""},"yoast_head":"<!-- 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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":602006,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/adeptio-challenges-egypts-fras-rejection-of-americana-mto-decision-appeal\/","url_meta":{"origin":597500,"position":1},"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 rejection of its appeal against Americana MTO decision: Adeptio AD Investments, the lead shareholder of Egyptian International Tourism Projects Company\u2019s (Americana Egypt), has filed suit in an administrative court challenging the Financial Regulatory Authority\u2019s (FRA) rejection of its appeal against an order to submit\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":594271,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/24\/fra-grants-adeptio-extension-to-submit-mto-for-americana-egypt\/","url_meta":{"origin":597500,"position":2},"title":"FRA grants Adeptio extension to submit MTO for Americana Egypt","author":"enterpriseam admin","date":"24 October 2019","format":false,"excerpt":"M&A WATCH- FRA grants Adeptio extension to submit offer to minority shareholders of Americana Egypt: The Financial Regulatory Authority (FRA) given Adeptio AD Investments a 15-day grace period to submit a mandatory tender offer (MTO) to buy out minority shareholders in the Egyptian International Tourism Projects Company (Americana), according to\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":595627,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/01\/americana-egypts-minority-shareholders-reject-adeptio-ads-buyout-offer\/","url_meta":{"origin":597500,"position":3},"title":"Americana Egypt\u2019s minority shareholders reject Adeptio AD\u2019s buyout offer","author":"enterpriseam admin","date":"1 August 2019","format":false,"excerpt":"DISPUTE WATCH- Americana Egypt\u2019s minority shareholders say nay to Adeptio AD\u2019s buyout offer: Minority shareholders in the Egyptian International Tourism Projects Company (Americana Egypt) are skeptical of a planned buyout offer from main shareholder Adeptio AD Investments and will continue their fight with the company if it fails to submit\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":593101,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/americana-egypt-minority-shareholders-turn-down-adeptios-offer-price\/","url_meta":{"origin":597500,"position":4},"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":601649,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/06\/americanas-adeptio-to-challenge-fra-rejection-of-mto-related-appeal-before-court\/","url_meta":{"origin":597500,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597500","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=597500"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597500\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597486"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597500"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597500"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}