Mondi Industrial Bags B.V. offered to acquire 70.11% stake in Suez Bags Company S.A.E. from Suez Cement Company SAE and others for approximately EGP 200 million.

Mondi Industrial Bags B.V. offered to acquire 70.11% stake in Suez Bags Company S.A.E. (CASE:SBAG) from Suez Cement Company SAE (CASE:SUCE) and others for approximately EGP 200 million on February 25, 2018. Under the offer, Mondi Industrial Bags B.V. will acquire 7.67 million shares at EGP 26.1 per share. The offer has been submitted to Financial Regulatory Authority for approval.

The offer will be commenced on July 2, 2018 and will end on July 31, 2018. Zaki Hashem & Partners acted as legal advisor for Mondi Industrial Bags B.V.