Mansourah Poultry’s (MPCO) board of directors approved the purchase offer submitted by Ahmed Gomaa El-Desouky for the company’s whole stake in El-Safwa Poultry (Koko) in consideration of EGP 10.001 million, according to a filing to the Egyptian Exchange (EGX) on August 18th.
The transaction will be implemented on 756,000 shares, representing 24% of Koko’s capital, at a per share price of EGP 13.23.
The deal was valued based on the fair value (FV) report, conducted by the independent financial advisor Solid Capital, which set Koko’s value at EGP 12.26 per share.
Under the FV report, the value of Mansourah Poultry’s stake in Koko was estimated at around EGP 9.26 million.
It is worth noting that Mansourah Poultry turned to profitability during the first half of 2022.
Mansoura Poultry is an Egypt-based public shareholding company specializing in poultry farming and its related activities. The firm produces poultry products for breeding purposes for the production of hatching eggs and day-old chicks.
Source: Arab finance
