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Egypt’s financial regulator – the Egyptian Financial Supervisory Authority (EFSA) has approved a request submitted by OCI N.V. to bid for shares owned by minor shareholders in Orascom Construction Industries (OCI S.A.E.).
The bid will be at the same price of the earlier one, as per OCI N.V. commitment as stated in the purchase offer endorsed by EFSA on June 25, 2013.
The Dutch company had made a mandatory tender offer for 100% of OCI, but the offer received 97.44% approval of shares (201,616,948).
