Cairo - Mubasher: The board of directors of Middle East Glass Manufacturing Co. gave a nod to the study prepared by Fincorp Investment Holding, the independent financial advisor that the company mandated earlier, regarding Misr Glass Manufacturing Co.(MGM).
The study has set MGM's fair value (FV) at 34.27 per share.
Last November, Middle East Glass Manufacturing said it looks forward to acquire 100% of MGM and accordingly it appointed Fincorp to set MGM's fair value.
In the same vein, Middle East Glass stated earlier that its 99.9%-owned subsidiary Middle East Glass (MEG) has signed an agreement to buy 100% of MGM stocks for EGP 735,500.
