HeidelbergCement France S.A.S. made an offer to acquire 32.9% stake in Suez Cement Company SAE (CASE:SUCE) for approximately EGP 450 million on September 29, 2020. As per the transaction, HeidelbergCement France S.A.S. made an offer to acquire 59.79 million shares at EGP 7.5 per share. In a related transaction, Suez Cement Company SAE made an offer to acquire Egyptian Tourah Portland Cement Company (S.A.E.) (CASE:TORA) on September 29, 2020. The Financial Regulatory Authority received the application to review the transaction. As per announcement of November 1, 2020, the board of directors of Suez Cement Company SAE approved the approved the fair value assessment studies prepared by the independent financial advisor. As of November 22, 2020, Financial Regulatory Authority provided the green light for the trNAction. The offer period is started on October 15, 2020 and will end on November 12, 2020. Grant Thornton Financial Consulting acted as a financial advisor for Suez Cement Company SAE.