Arab Finance: A company said South Valley Cement – (SVCE) The Al -Ashry Hadid Company, which is affiliated with Al -Ashry Steel Group, has advanced with a competitor to acquire 100% of the shares of the Building Materials Industries Company, as part of a acquisition race currently witnessing the sector, according to the company in Its statement The sender to the Egyptian Stock Exchange.
This move comes after the company “ITI Einsioneus Endosterials In Simeno E Matrielis S.L.” Spanish on the approval of the Competition Protection Authority and the prevention of monopolistic practices, to move forward in submitting an official offer to acquire about 527.88 million shares, representing 85.98% of the capital of “building materials industries”.
South Valley Cement explained that the opposing offer opens the door to the possibility of entering a bid on the target company’s shares, at a time when the building materials sector is witnessing increasing interest from local and foreign investors, in conjunction with a wave of restructuring within the market.
The company was established in 1997, and its purpose is to produce cement of various types and other products that branched from the cement industry or related to it, and the production of other building materials and construction requirements.
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