The Mauritius Chemical and Fertilizer Industry Limited (MUSE:MCFI.N0000) made an intention to acquire Bychemex Limited (MUSE:BYCH.I0000) from Harel Mallac & Co. Ltd. (MUSE:HML.N0000) and others for MUR 35.2 million.
The offer is subject to the prior approval of the Financial Services Commission and guidance by the Competition Commission of Mauritius. The offer is also conditional upon the approval by the shareholders of MCFI, special meeting for which is scheduled on January 22, 2019. As on January 29, 2019, the approval from the shareholders of MCFI was received. PricewaterhouseCoopers and Deloitte Mauritius acted as independent valuers appointed by the board of MCFI in determining the offer price.