EFSA: Olympic Group takeover deal attractive for shareholders

Egyptian Financial Supervisory Authority (EFSA) issued a statement today about the opinion of the independent financial advisor (IFA) and board of Olympic Group on the mandatory bid submitted by Electrolux Group to buy 100% of Olympic Group’s capital.


The advisor Beltone Financial fixed the fair value of Olympic’s stock at EGP 29.55 based on discounted cash flows and P/E ratio, while the price offered by Electrolux Group , a Swedish firm and the world's second-largest appliance maker, was EGP 40.60. Accordingly, Olympic board saw the offered price as very good.