Egypt Kuwait Holding Company (S.A.E.) (CASE:EKHO) made binding offer to acquire an additional stake of 66.97% stake in Delta Insurance Company (CASE:DEIN) for approximately EGP 330 million on January 2, 2018. Under the terms of the transaction, Egypt Kuwait Holding will acquire approximately 16.7 million shares in Delta Insurance at a suggested price per share of EGP 20. The deal will be financed through the company's liquidity. Following the acquisition, Egypt Kuwait Holding will increase its share in Delta Insurance from 32.026% to 98.999%. The transaction is subject to approval by the Financial Regulatory Authority, the Egyptian Exchange and other regulators. As of January 2, 2018, the transaction has been approved by regulatory board. As of the week ended February 2, 2018, the Financial Regulatory Authority approved the transaction. As of February 4, 2018, the Egyptian Exchange approved to start implementing the compulsory buyout from a February 4, 2018 to March 1, 2018. The transaction is expected to be completed in the first quarter of 2018. As of the announcement dated February 4, 2018, the transaction would be completed within 5 days of ending the purchase offer.

As of February 5, 2018, Egypt Kuwait Holding revised its offer to acquire approximately 17 million shares of Delta Insurance at the same offer price of EGP 20 per share. The revised offer is valid for the next 20 days starting from February 6, 2018. Following the completion of the transaction, Egypt Kuwait Holding would now hold 100% of the stake in Delta insurance. The independent financial advisor in its opinion stated that the evaluation price of Delta Insurance is set between EGP 17.71 and EGP 19.72 per share, with an average price of EGP 18.72.