Tycoon Holding made an offer to acquire 90% stake in Alexandria National Company For Financial Investment SAE from Abu Dhabi Islamic Bank - Egypt S.A.E. and others for EGP 29.4 million.

Tycoon Holding made an offer to acquire 90% stake in Alexandria National Company For Financial Investment SAE (CASE:ANFI) from Abu Dhabi Islamic Bank - Egypt S.A.E. (CASE:ADIB) and others for EGP 26.1 million on June 8, 2021. Tycoon Holding will acquire shares at EGP 5.5 per share. Tycoon Holding made an offer to acquire 90% stake in Alexandria National Company For Financial Investment SAE from Abu Dhabi Islamic Bank - Egypt S.A.E. and others for EGP 29.4 million.

As of July 18, 2021, the tender offer price was increased to EGP 6.25 per share. ADIB Egypt owns a direct stake of 9.04% in the company and a total direct and indirect stake of 84.99%. As of June 9, 2021, The Egyptian Financial Regulatory Authority (FRA) approved the publication of the mandatory tender offer.

As of August 15, 2021, The board of directors of Abu Dhabi Islamic Bank - Egypt S.A.E. has approved the transaction.