UAE’s Zeta makes formal offer to acquire 90% in Alexandria National Company for Financial Investment

UAE’s Zeta Investment has formally submitted a mandatory takeover offer to acquire 90 percent stake in Alexandria National Company for Financial Investment for 5.48 Egyptian pounds ($0.35) per share.

The offer was submitted to the Egyptian Financial Regulatory Authority (FRA) on Thursday.

Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) owns a direct stake of 9.04 percent in Alexandria National Company for Financial Investment and a total direct and indirect stake of 84.99 percent.