Thursday 01, November 2018 by Kudakwashe

Egypt's Orascom Investment to acquire 30 per cent of Sarwa Capital

 

Orascom requested approval from the Financial Regulatory Authority to buy a non-controlling stake of 216 million shares of Sarwa at EGP 7.36 each.

Egypt’s Orascom Investment Holding said that it is expecting to acquire 30 per cent of Sarwa Capital’s shares in November.

Tamer El Mahdi, the Chief Executive of Orascom Investment, said that if the firm only acquires between 144 million and 216 million shares, it would pay EGP 6.62 a share, reported Reuters.

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