January 22, 2019 / 8:02 PM / 9 months ago

Egypt's MNHD calls off planned share-swap with SODIC - document

CAIRO, Jan 22 (Reuters) - Egypt’s Madinet Nasr for Housing and Development (MNDH) has called off a planned merger via a share-swap with the Sixth of October Development and Investment Company (SODIC), according to a document seen by Reuters on Tuesday.

SODIC had moved to acquire MNDH through a mandatory purchase offer in October that entailed the exchange of one of SODIC’s shares for every two of Madinet Nasr’s. (Reporting by Nadine Awadalla Editing by Gareth Jones)

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