Raya Holding Company for Technology and Communication (S.A.E) completed the acquisition of a 19.39% stake in Makarony Polskie S.A. from Towarzystwo Gospodarcze BEWA Sp. z.o.o.

Madova Sp. z o.o. signed a preliminary agreement to acquire a 19.39% stake in Makarony Polskie S.A. (WSE:MAK) from Towarzystwo Gospodarcze BEWA Sp. z.o.o. for EGP 38 million on August 26, 2016. Under the terms, Madova will acquire 1.79 million shares of Makarony Polskie for EGP 21.19 per share. The deal value is subject to adjustment. The transaction is subject to due diligence and certain other approvals. Madova Sp. z o.o. completed the acquisition of a 19.39% stake in Makarony Polskie S.A. (WSE:MAK) from Towarzystwo Gospodarcze BEWA Sp. z.o.o. on October 14, 2016.