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Pharos successfully concludes Mondi’s acquisition of 94.34% of Suez Bags Shares

July 2018 - Cairo , Egypt

Cairo, 10th August 2018, Pharos Securities Brokerage announced the successful acquisition of 94.34% of the required shares of the Suez Bags Company SAE.

Pharos Securities Brokerage was the buy side broker for Mondi’s mandatory tender offer of 7,666,435 shares; equivalent to 70.11% of the capital of Suez Bags SAE.

“Pharos has succeeded in Mondi’s acquisition of 66.14% of Suez Bags Company shares for EGP 26.01 per share, equivalent to 94.34% of the shares that were required”, said Essam Abdel Hafiz, Managing Director of Pharos Securities Brokerage.

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