The Clap
Egytrans (ETRS) is studying the potential acquisition of a majority stake in National Transport and Overseas Services “Nosco”.
The Deets
Negotiations between the two companies are still in their initial stages, and the company’s final decision will be after conducting due diligence and determining the fair value of the stock.
The company added that it will appoint an independent financial advisor to derive the fair value of Nosco.
Background
Egytrans denied receiving any acquisition offers and added that it is looking to acquire another company.
Why this Matters
The goal of this potential acquisition is to improve the company’s capability of expansion.
