Egyptian Kuwaiti Holding (EKH) has received two offers to fully acquire its 63.39%-owned Delta Insurance (DEIN), according to a bourse filing.

Both AXA Investment Egypt and Wafa Assurance submitted a preliminary non-binding offer to merge and fully own Delta Insurance’s shares at an estimated value of EGP 5 billion or EGP 50 per share.

AXA Investment aims to hold a minimum of 75% of the EGX-listed company's shares, while Wafa Assurance seeks to own at least a 51% stake. 

Meanwhile, the two deals will be mandatory purchase offers per the laws and regulations applicable in this matter.

Delta Insurance is an EGX-listed company that provides life and non-life insurance and reinsurance services. The company offers its services through two main segments: Corporate Solution Plans, Individual Protection Plans, and Aman El Safar Plan.

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