UAE-based Nas Investment Holding intends to submit a mandatory tender offer to acquire an additional 57.5% stake in Samad Misr (EGYFERT), according to a statement.

The acquisition of 5.5 million shares would increase Nas’s ownership in EGYFERT to 90%.

Nas plans to offer EGP 95 per share, valuing the transaction at EGP 522.5 million and EGYFERT at approximately EGP 912 million.

The FRA’s statement noted that the acquisition would keep EGYFERT’s shares listed on the Egyptian Exchange (EGX).

Nas Investment Holding had earlier acquired a 32.5% stake in EgyFert in October, buying 3.1 million shares from MidFert Misr at EGP 60 per share, for a total of EGP 186.6 million.

Nas has 60 days to submit its formal tender offer as per regulatory requirements.

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