Shalakany Successfully Represents CIHC in Pachin Tender Offer
Shalakany is delighted to announce that, along with our dear friends at Al Ahly Pharos, we have successfully represented Paint and Chemical Industries (Pachin)’s majority shareholder, the Holding Company for Chemical Industries (CIHC), in the competitive bidding for the acquisition of Pachin’s shares.
Dubai-based National Paints Holding (NPH) has acquired over 80% of Pachin for around EGP 770.5 million in its mandatory tender offer that was executed yesterday.
Omar Sherif, the Partner who led this deal and the head of our capital market practice said “we are elated that after months of guiding our client through the back-and-forth bids and counter bids between NPH and Eagle Chemicals, our client was able to extract the best offer for their stake. This deal is a concrete success story for the Egyptian market and marks a great start to the announced government’s privatization plan”.
This deal was handled by our capital market team consisting of Omar Sherif, Omneya Anas and Rokaya Ghoneim.