National Paints Holdings Ltd made an offer to acquire Paints and Chemical Industries Company Pachin S.A.E. (CASE:PACH) for EGP 820 million on November 1, 2022. As per the terms, the offer price is EGP 29 per share for 24 million shares. As of March 7, 2023, the offer has been raised to EGP 34 per share. The transaction is subject to due diligence consummation and certain other conditions. Al Ahly Pharos Investment Banking acted as a financial advisor to Paints and Chemical Industries Company Pachin S.A.E. As of March 30, 2023, the offer has been raised to EGP 37.75 per share. As of April 27, 2023, the offer has been raised to EGP 39.8 per share. As of May 3, 2023. National Paints Holding (NPH) has acquired 81% stake in Paints and Chemical Industries (Pachin) in a deal worth EGP 770.45 million. Adsero Ragy Soliman & Partners acted as legal advisor to Paints and Chemical Industries Company Pachin S.A.E. (CASE:PACH).

National Paints Holdings Ltd completed the acquisition of a 80% stake in Paints and Chemical Industries Company Pachin S.A.E. (CASE:PACH) on May 10, 2023.