Arabian Cement decides not to move forward with acquisition of ASCOM’s subsidiary
Arabian Cement Company (ARCC.CA) has decided not to move forward with the acquisition of 99.9% of one of ASEC Company for Mining- ASCOM’s subsidiaries operating in Egypt and working in the field of quarry products, after it had submitted a non-binding offer in March 2016. The decision came in light of the outcome of the negotiations that followed the due diligence . (Company disclosure) Arabian Cement (Egypt): EGP6.56 as of 17 July 2016, Rating: Buy, FV: EGP13.00 per share, MCap: USD283mn, ARCC EY / ARCC.CA
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