Egypt: Amoun Real Estate submits MTO for majority stake in Atlas for Investment

Amoun aims to acquire a majority stake in Atlas, ranging from 51% to 90%

Staff Writer, Arab Finance

September 27, 2024

PHOTO

Egypt - The Financial Regulatory Authority (FRA) has received a mandatory tender offer (MTO) from Amoun Real Estate Investment Company to acquire 65.59%, equivalent to 427.207 million shares, of Atlas for Investment and Food Industries at a price of EGP 0.78 per share, as per a statement.

Amoun aims to acquire a majority stake in Atlas, ranging from 51% to 90%.

The MTO is pending the FRA’s approval.

Atlas, established in 1997 and listed in 2012, has four subsidiaries focusing on real estate, farm development, and agricultural processing.

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