Vicat Cement Egypt's acquisition of Sinai Cement approved

The Financial Regulatory Authority (FRA) has approved the publication of a disclosure of an acquisition offer by Vicat Cement Egypt for a 42.12 per cent stake in Sinai Cement Co at EGP6.74 (US$0.36) per share, according to a filing to the Egyptian Exchange (EGX).

Vicat will buy 56.064m shares in Sinai Cement, increasing its stake in the company to 100 per cent.