Egypt’s El-Garhy Steel offers to acquire National Company for Glass and Crystal

Egyptian steel manufacturer El-Garhy Steel Group has submitted a mandatory offer to acquire 100 percent of shares of the National Company for Glass and Crystal (NCGC), an El-Garhy official announced on Wednesday.

Mohamed El-Garhy, vice chairman and managing director of El-Garhy Steel, said the company seeks to buy 15 million shares in NCGC for 1.35 Egyptian pounds ($0.086) per share.

El-Garhy did the financial and technical due diligence during 2021 to study all the possibilities, he added.