The Clap
The Holding Company for Chemical Industries has no problem in selling its stake in PACHIN (PACH), as long as the price represents a fair valuation of the company. The current offers do not represent the fair value, according to the company.
Who owns Pachin?
The Holding Company for Chemical Industries holds a 44.6% stake in Pachin, while Banque Misr holds a 10.5% stake.
Pachin’s general assembly will meet in the second half of September to take its shareholder’s opinions about the offers it received.
Background
These statements were made after Pachin received two acquisition offers, the first being from Sipes for EGP 17.5-18.5 per share and the second from Saybad Industrial Investments for EGP 16.5 – 18.75 per share.