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Thndr Claps » EGY Claps » Real Estate 🏡 » Madinet Nasr unhappy with SODIC’s offer ❌

Madinet Nasr unhappy with SODIC’s offer ❌

by Omar El Shorafa
July 17, 2022
Madinet Nasr, SODIC, Acquisition

The Clap
Madinet Nasr (MNHD) are set to reject due diligence conducted by SODIC (OCDI) as they are unhappy about the initial offer.

The Deets
SODIC had put in an offer to acquire 100% of Madinet Nasr for a price range between EGP 3.2 – 3.4. 

However, MNHD and their shareholders find the initial price too low. They believe the offer SODIC has put forward is not representative of their current market position as well as assets.

So what now?
The reaction of SODIC is still unclear. They may come back with an improved offer to MNHD or they may even withdraw from the deal.

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