102 LAWYER MONTHLY JUNE 2023 National Paints’ Raising Bid for Pachin About the Deal Shalakany Law Office has advised Paints and Chemical Industries (Pachin) and its former majority shareholder, the Chemical Industries Holding Company (CIHC), on its acquisition offer by Dubai-based National Paints Holding. In late April, National Paints Holding (NPH) raised the price of its mandatory tender offer (MTO) for Pachin to EGP 39.8 per share. This increase came in response to multiple competing bids, mainly by Eagle Chemicals. Shareholders of Pachin – a state-owned EGX-listed firm – were given until 2 May to respond to the takeover bid. Pachin shareholders’ tendering their positions included CIHC, Banque Misr, Misr Insurance and other major institutions. Shalakany Law Office’s team was led by partner Omar Sherif, associate Omneya Anas and junior associate Rokaya Ghoneim, all of whom brought their extensive expertise in capital markets and M&As to the transaction. Transaction Interview Legal Advisor to Pachin:
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