Egyptian Financial Regulatory Authority approves Suez Cement’s Tourah Portland Cement acquisition

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Egypt: The Financial Regulatory Authority (FRA) has approved HeidelbergCement and Simon France subsidiary Suez Cement’s mandatory tender offer (MTO) for acquisition of a 100% stake in Egyptian Tourah Portland Cement for US$32.7m. Daily News Egypt has reported that the FRA also approved a change to Suez Cement’s ownership, with HeidelbergCement France acquiring a 33% stake in the company.

Last modified on 21 October 2020

URL: https://www.globalcement.com/news/item/11490-egyptian-financial-regulatory-authority-approves-suez-cement-s-tourah-portland-cement-acquisition

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