OCI N.V. Submits Mandatory Tender Offer To Egyptian Financial Supervisory Authority To Acquire Orascom Construction Industries SAE


Monday, 18 Feb 2013 04:58am EST 

OCI N.V. announced that it has formally filed a mandatory tender offer (MTO) to acquire all outstanding ordinary shares of Orascom Construction Industries S.A.E. listed on the Egyptian Stock Exchange (EGX) with the Egyptian Financial Supervisory Authority (EFSA), in accordance with Chapter XII of Egypt's Capital Markets Law No. 95 of the year 1992. The ordinary shares total 47,169,862 and represent 22.5% of OCI S.A.E.'s total outstanding shares. The remaining 75.7% of OCI S.A.E.'s shares were converted to OCI N.V. shares through the Company's Global Depository Receipts (GDR) Exchange Offer. Financial terms were not disclosed.