Egypt and global economy brief
83% of targeted shares respond to Al Baraka Bank’s takeover offer for Al Tawfiq Leasing
✦Key takeaways
- Preliminary acceptances for Al Baraka Bank Egypt’s mandatory tender offer for Al Tawfiq Leasing reached about 273.72 million shares by the offer’s close on Wednesday.
- The bank’s offer targets up to 329.47 million shares, representing 90% of the company’s total shares.
- The reported acceptances represent 83% of the targeted shares.
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