{"id":646213,"date":"2017-06-08T03:52:19","date_gmt":"2017-06-08T03:52:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/08\/modern-waterproofing-company-managements-submit-offer-to-buy-company\/"},"modified":"2017-06-08T03:52:19","modified_gmt":"2017-06-08T03:52:19","slug":"modern-waterproofing-company-managements-submit-offer-to-buy-company","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/08\/modern-waterproofing-company-managements-submit-offer-to-buy-company\/","title":{"rendered":"Modern Waterproofing Company management\u2019s submit offer to buy company"},"content":{"rendered":"

<\/a> M&A WATCH- The <\/strong>Modern Waterproofing Company<\/strong><\/a>\u2019s management<\/strong> 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<\/a>. With 119 mn shares in play<\/a>, that would imply a ticket price in the EGP 87-95 mn range. Management buyouts (or MBOs, as they\u2019re known in finance circles) are entirely too rare in Egypt \u2014 we report on an average of about one a year, and one of the last three was of an Egypt-focused (not Egypt-based) company. Recent examples include Pharos Holding\u2019s management buying out Qalaa Holdings\u2019 stake<\/a> (2015); the management team at Discover Egypt buying the firm from All Leisure Group<\/a> (2016); and Accelero Capital\u2019s management team buying back shares held by OTMTI<\/a>, at the time its largest shareholder (2017)<\/p>\n","protected":false},"excerpt":{"rendered":"

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 shares in play, that would […]<\/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-646213","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"580daf2f-8145-4021-b39b-6c50cf950ae3","order":"0","is_powered_by":true,"section_story_id":"722efbda-2e36-4fb8-b166-884e02e8abf5","story_type":"1","photo_url":"","photo_position":"above","related_issue":[646207],"teaser":"","voice_url":""},"yoast_head":"\nModern Waterproofing Company management\u2019s submit offer to buy company - 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\/06\/08\/modern-waterproofing-company-managements-submit-offer-to-buy-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Modern Waterproofing Company management\u2019s submit offer to buy company\" \/>\n<meta property=\"og:description\" content=\"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. 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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 "Speed Round"","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":571637,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/19\/bitumode-agrees-to-share-price-in-sika-egypts-mto\/","url_meta":{"origin":646213,"position":1},"title":"Bitumode agrees to share price in Sika Egypt\u2019s MTO","author":"enterpriseam admin","date":"19 May 2020","format":false,"excerpt":"M&A WATCH- Modern Waterproofing (Bitumode) has agreed to the EGP 3.91 share price Sika Egypt has set in its mandatory tender offer (MTO) for 100% of Bitumode\u2019s 119 mn shares, according to Hapi Journal. The Financial Regulatory Authority had approved the construction chemicals supplier\u2019s MTO last week.","rel":"","context":"In "Speed Round"","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":646213,"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. 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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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