Al Ezz Dekheila Steel Company - Alexandria S.A.E. (CASE:IRAX) agreed to acquire 1% stake in Al Ezz Rolling Mills Co Sae for EGP 20.7 million on August 4, 2019. Under the terms, Al Ezz Dekheila will acquire the shares at the fair value of Al Ezz Rolling Mills shares at EGP 23.07 per share. Shares in Al Ezz Dekheila will be allotted to the shareholders of Al Ezz Rolling Mills in exchange of their shares. As on August 4, 2019, the Board of Directors of Al Ezz Dekheila Steel approved of the transaction. As of December 12, 2019, Al Ezz Dekheila Steel Company - Alexandria S.A.E. executed the mixed purchase offer. 0.1 million shares were acquired at EGP 23.07 per share and 89.79 million shares were acquired on swap basis for approximately 51 Ezz Rolling shares for each share of Al Ezz Dekheila Steel Company - Alexandria S.A.E. Al Ezz Dekheila Steel Company - Alexandria S.A.E. (CASE:IRAX) cancelled the acquisition of 1% stake in Al Ezz Rolling Mills Co Sae on August 4, 2020.