{"id":644514,"date":"2024-09-26T00:00:00","date_gmt":"2024-09-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/26\/amoun-offers-to-acquire-65-6-of-egx-listed-atlas\/"},"modified":"2024-09-26T00:00:00","modified_gmt":"2024-09-26T00:00:00","slug":"amoun-offers-to-acquire-65-6-of-egx-listed-atlas","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/26\/amoun-offers-to-acquire-65-6-of-egx-listed-atlas\/","title":{"rendered":"Amoun offers to acquire 65.6% of EGX-listed Atlas"},"content":{"rendered":"

Good afternoon, wonderful people. <\/strong>It\u2019s a wrap for a super busy work week over here at EnterpriseAM HQ after the successful EnterpriseAM Finance Forum we held on Tuesday. Thanks again to the three groups of people who made it all possible: The fantastic leaders who joined us on stage, the sponsors and partners who made it possible, and every one of you who joined us in person.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Amoun for Real Estate makes official offer to acquire EGX-listed Atlas: <\/strong>The Financial Regulatory Authority (FRA) has received an official offer by Amoun for Real Estate and Tourism Development to acquire 65.59% of EGX-listed Atlas for Investment and Food Industries, the regulator said in a statement to the EGX today<\/a> (pdf). Amoun has offered to purchase around 427.2 mn shares of Atlas for EGP 0.78 a piece in a mandatory tender offer, valuing the company at around EGP 333.22 mn by our math. Amoun will need to acquire a minimum 51% stake of the target company for the offer to go through, the statement reads.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Israel has rejected a US-backed ceasefire proposal.<\/strong> The motion for the three-week treaty \u2014 signed by allies of Israel, which include the US and France \u2014 was rejected by the occupying state this morning as they ramped up their attacks on both Lebanese and Palestinian civilians. Over 90k Lebanese citizens have been displaced to seek safety, and the death toll now stands at more than 600. Israel\u2019s allies are concerned that the state\u2019s planned ground invasion of Lebanon will spark a wider regional conflict that will force other countries to intervene. (Reuters<\/a> | Bloomberg<\/a> | CNN<\/a>)<\/p>\n

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