NEWS RELEASE
Orascom Construction Industries Receives Approval from CMB to Launch
Voluntary Tender Offer for all A & B shares of Baticim Cimento
OCI will launch the voluntary tender offer call on 29 March for 100%
of A and B class shares
Cairo, Egypt - 26 March 2007: Orascom Construction Industries
(OCI) has announced that its wholly owned subsidiary, OCI Cimento
Anonim Sirketi ("OCI Cimento"), has received approval from the
Capital Markets Board ("CMB"), to make a voluntary tender offer
for all outstanding A and B class shares in Bati Anadolu Cimento
Sanayii Anonim Sirketi ("Baticim") that OCI does not currently
own for a minimum price of YTL 11.50 per class B share and
YTL 1,880 per class A share each based on a nominal value of
YTL 1 per share..
OCI Cimento has issued a formal disclosure to the Istanbul
Stock Exchange as required by the Capital Markets Board indicating
that the tender call will begin on 29 March 2007 at 9:00 am and
end on 12 April 2007 at 5:00 pm. The Information Note with
final information on the tender offer mechanics and prices will
be published in Turkish newspapers on 28 March 2007.
CONTACT:
Hassan H. Badrawi
Investor Relations Director
Tel : +202 24 61 10 39/10 36
Fax : +202 24 61 94 09
Email: hassan.badrawi@orascomci.com
For additional information on OCI: www.orascomci.com
Orascom Construction Industries (OCI)
Nile City Towers - South Tower
2005A Corniche El Nil, Cairo, Egypt
Tel: +202 24 61 11 11, Fax: +202 24 61 94 00,
OCI stock symbols: OCIC.CA / ORCI EY / OCICqL / ORSD LI
This information is provided by RNS
The company news service from the London Stock Exchange
Orascom Construction Industries S.A.E. announces Baticim Tender Offer Approved
| Source: Orascom Construction Industries
Cairo -- (MARKET WIRE) -- March 26, 2007 --