Banque Misr (S.A.E.) made a mandatory tender offer to acquire an additional 65.3% stake in CI Capital Holding For Financial Investments (S.A.E) (CASE:CICH) for EGP 3.1 billion on February 10, 2021. Pursuant to the terms of the offer, Banque Misr (S.A.E.) will acquire approximately 650 million shares in CI Capital Holding For Financial Investments (S.A.E) for EGP 4.7 per share. As a result of the acquisition, stake of Banque Misr (S.A.E.) in CI Capital Holding For Financial Investments (S.A.E) will increase from 24.7% to 90%. The transaction is subject to approval from Egypt’s Financial Regulatory Authority (FRA). On February 12, 2021, Financial Regulatory Authority approved the deal. On March 7, 2021, The Board of Directors of CI Capital Holding For Financial Investments rejected the transaction as the offer is undervalued. Baker Tilly Wahid Abdel Ghaffar & Co. acted as financial advisor to CI Capital Holding For Financial Investments.