OCI N.V. announced Tuesday evening that it has received approval from the Egyptian Financial Supervisory Authority (EFSA) to launch its proposed tender offer for Orascom Construction Industries’ (OCI S.A.E.) (OCIC.CA) outstanding ordinary shares listed on the Egyptian Exchange (EGX).
OCI N.V. will offer all shareholders of OCI S.A.E. an Exchange Offer to convert in to OCI N.V. as well as a cash alternative of EGP 255 per share. The offer will launch on Thursday 27 June and will conclude on Sunday 28 July.