{"id":643000,"date":"2017-08-28T03:59:17","date_gmt":"2017-08-28T03:59:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/28\/efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september\/"},"modified":"2017-08-28T03:59:17","modified_gmt":"2017-08-28T03:59:17","slug":"efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/28\/efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september\/","title":{"rendered":"EFSA approves Modern Waterproofing Company\u2019s MBO, window opens today to 28 September"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>M&A WATCH- A rare management Buyout.<\/strong> The Egyptian Financial Supervisory Authority reportedly gave the management team at <strong>Modern Waterproofing<\/strong> the green light on Sunday to tender for 34% of the company at EGP 0.8 per share, which could bring their collective stake up to 100%, <a href=\"http:\/\/almalnews.com\/Story\/344242\/11\/%D9%85%D9%88%D8%AF%D8%B1%D9%86-%D8%AA%D8%AA%D8%AC%D9%87-%D9%84%D8%AA%D8%B9%D9%8A%D9%8A%D9%86-%D9%85%D8%B3%D8%AA%D8%B4%D8%A7%D8%B1-%D9%85%D8%A7%D9%84%D9%89-%D9%85%D8%B3%D8%AA%D9%82%D9%84-%D9%84%D8%AA%D9%82%D9%8A%D9%8A%D9%85-%D8%A7%D9%84%D8%B3%D9%87%D9%85\">according to Al Borsa<\/a>. With 119 mn shares said to be outstanding, the transaction would be worth about EGP 32 mn. The buyout window will be open from today (28 August) and until 28 September. Modern Waterproofing CEO Mohamed Gamal El Din and majority shareholder Ali bin Hassan bin Dayekh have reportedly submitted their offers to EFSA and are looking to split the stake evenly, <a href=\"http:\/\/almalnews.com\/Story\/344242\/11\/%D9%85%D9%88%D8%AF%D8%B1%D9%86-%D8%AA%D8%AA%D8%AC%D9%87-%D9%84%D8%AA%D8%B9%D9%8A%D9%8A%D9%86-%D9%85%D8%B3%D8%AA%D8%B4%D8%A7%D8%B1-%D9%85%D8%A7%D9%84%D9%89-%D9%85%D8%B3%D8%AA%D9%82%D9%84-%D9%84%D8%AA%D9%82%D9%8A%D9%8A%D9%85-%D8%A7%D9%84%D8%B3%D9%87%D9%85\">sources tell Al Mal<\/a>. Al Mal notes that <strong>institutional investors who hold a 6.5% stake in the firm had previously refused to sell.<\/strong> Gamal El Din had said before, however, that management was planning to float some company shares on the EGX if they were able to acquire the full 100% stake. Our friends at <strong>Beltone Financial <\/strong>are advising, with <strong>Zaki Hashem & Partners<\/strong> acting as legal counsel, the newspaper adds. The bidders had <a href=\"https:\/\/enterprise.press\/stories\/2017\/06\/08\/modern-waterproofing-company-managements-submit-offer-to-buy-company\/\">sought regulatory approval back in June<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- A rare management Buyout. The Egyptian Financial Supervisory Authority reportedly gave the management team at Modern Waterproofing the green light on Sunday to tender for 34% of the company at EGP 0.8 per share, which could bring their collective stake up to 100%, according to Al Borsa. With 119 mn shares said to [&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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643000","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"a3e887a5-3f4f-4645-8a2c-d81be714d63c","order":"0","is_powered_by":true,"section_story_id":"f6362f37-1307-4d4e-bfca-80b5938a696a","story_type":"1","photo_url":"","photo_position":"above","related_issue":[642988],"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>EFSA approves Modern Waterproofing Company\u2019s MBO, window opens today to 28 September - 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\/2017\/08\/28\/efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFSA approves Modern Waterproofing Company\u2019s MBO, window opens today to 28 September\" \/>\n<meta property=\"og:description\" content=\"M&amp;A WATCH- A rare management Buyout. The Egyptian Financial Supervisory Authority reportedly gave the management team at Modern Waterproofing the green light on Sunday to tender for 34% of the company at EGP 0.8 per share, which could bring their collective stake up to 100%, according to Al Borsa. With 119 mn shares said to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/28\/efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-28T03:59:17+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/28\/efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/28\/efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EFSA approves Modern Waterproofing Company\u2019s MBO, window opens today to 28 September\",\"datePublished\":\"2017-08-28T03:59:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/28\/efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september\/\"},\"wordCount\":193,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/28\/efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/28\/efsa-approves-modern-waterproofing-companys-mbo-window-opens-today-to-28-september\/\",\"name\":\"EFSA approves Modern Waterproofing Company\u2019s MBO, window opens today to 28 September - 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The Egyptian Financial Supervisory Authority reportedly gave the management team at Modern Waterproofing the green light on Sunday to tender for 34% of the company at EGP 0.8 per share, which could bring their collective stake up to 100%, according to Al Borsa. 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The Financial Regulatory Authority had approved the construction chemicals supplier\u2019s MTO last week.","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":646213,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/08\/modern-waterproofing-company-managements-submit-offer-to-buy-company\/","url_meta":{"origin":643000,"position":1},"title":"Modern Waterproofing Company management\u2019s submit offer to buy company","author":"enterpriseam admin","date":"8 June 2017","format":false,"excerpt":"M&A WATCH- The Modern Waterproofing Company\u2019s management team is seeking regulatory approval from the Egyptian Financial Supervisory Authority to acquire 100% of the company. The offer is priced at the fair value assessment of between EGP 0.73 and EGP 0.80 per share, according to an EGX filing. With 119 mn\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":571055,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/28\/fra-to-review-sika-egypts-mto-for-bitumode\/","url_meta":{"origin":643000,"position":2},"title":"FRA to review Sika Egypt\u2019s MTO for Bitumode","author":"enterpriseam admin","date":"28 April 2020","format":false,"excerpt":"M&A WATCH- Regulator to review Sika Egypt\u2019s MTO for Bitumode: The Financial Regulatory Authority (FRA) has received and will begin reviewing a mandatory tender offer (MTO) SikaEgypt submitted for up to 100% of Modern Waterproofing (Bitumode), according to Mubasher. Sika\u2019s offer will price Bitumode\u2019s shares at EGP 3.79 if shareholders\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":645124,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/12\/efsa-approved-nad-acquisition-of-egypco\/","url_meta":{"origin":643000,"position":3},"title":"EFSA approved NAD acquisition of Egypco","author":"enterpriseam admin","date":"12 July 2017","format":false,"excerpt":"M&A Watch- The Egyptian Financial Supervisory Authority (EFSA) has approved a mandatory tender offer by Saudi outfit NAD Development & Investment Company to acquire the remaining to acquire 100% of Egypt for Poultry (Egypco) at a share price of EGP 2.57, according to an EFSA notice. NAD, which already owns\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":574439,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/09\/bitumode-board-approves-mto-to-delist-from-egx\/","url_meta":{"origin":643000,"position":4},"title":"Bitumode board approves MTO to delist from EGX","author":"enterpriseam admin","date":"9 September 2020","format":false,"excerpt":"Modern Waterproofing\u2019s (Bitumode) BoD approved delisting the company from the EGX and taking it private, according to a bourse disclosure (pdf). Bitumode will make a mandatory tender offer to its shareholders on the EGX worth EGP 3.91, which was the same price in Sika Egypt\u2019s MTO when it purchased 119\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":572044,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/briefly-noted-cbes-pos-machines-emaar-misr-says-cairo-gate-isnt-new-sika-closes-bitumode-acquisition\/","url_meta":{"origin":643000,"position":5},"title":"BRIEFLY NOTED- CBE\u2019s POS machines, Emaar Misr says Cairo Gate isn\u2019t new, Sika closes Bitumode acquisition","author":"enterpriseam admin","date":"9 June 2020","format":false,"excerpt":"BRIEFLY NOTED- It will cost the central bank EGP 500-600 mn to finance the cost of rolling out 100k point-of-sale machines nationwide, Al Mal. 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