Americana Group, leading Restaurants & Foods company in MENA, has reached a business volume of $8 billion in the Egyptian market diversified between restaurants and food industries, according to Ahmed Ismail, Director of Corporate Finance and Treasury. He told Amwal Al Ghad that the group owns more than 400 restaurants within the Egyptian market, adding that FRA rejection Americana Group's the mandatory tender offer submitted for acquiring the remaining shares of the Egyptian Company for International Touristic Projects, won't hurt its expansion plans. The offer includes the purchase of 38.6 million shares at a price of EGP 3.9 per share. Earlier in November, the FRA rejected Americana Group's MTO, which included the fair value (FV) estimation study, on the grounds of being not in line with the financial evaluation standards. Thus, the group seeks to establish number of new restaurants while adding new products during the next year. While, the company has lately announced new investments of $40 million through establishing a new factor for its subsidiary, Farm Frites. The firm, majority owned by Adeptio AD Investments, has submitted an official complain to the Ministry of Investment and Cooperation to solve its problem with FRA. In mid-2016, Adeptio AD Investments acquired an indirect majority stake in Americana Egypt, following the acquisition of Americana Group.
