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Thndr Claps » EGY Claps » Mergers & Acquisitions 🤝 » SODIC MTO is Going Through⚡

SODIC MTO is Going Through⚡

by Shams Abbas
December 7, 2021

Yesterday was the deadline for SODIC shareholders to respond to the mandatory tender offer (MTO) by Aldar-ADQ consortium. Aldar-ADQ consortium is set to acquire 85.5% of SODIC.

More details🧐 Holders of over 85% of SODIC’s shares (~304.6 million) have placed orders for the EGP 20/share offer by the UAE consortium. 

The MTO required a minimum acquisition of 51% of SODIC’s shares to go through. It also offered to buy up to 90% of the real estate developers’ shares. 

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