Grand Capital Sells 50% Stake In Al Alamia Insurance Brokerage

Grand Capital for Financial Investments (GCFI) decided to sell 50% of its stake in Al Alamia for Insurance Brokerage Company, said Rady Mohamed Abdel Galil, managing director of Al Alamia Company.

Grand Capital owns 20% stake in the company and will sell half of its stake to four of its employees; 2.5% of the stake per each.

It is worth mentioning that Grand Capital for Financial Investments acquires 80,000 shares (EGP 200,000) of Al Alamia for Insurance Brokerage Company; EGP 2.5 per share.

The shareholding structure of Al Alamia for Insurance Brokerage Company is divided as follows: Grand Capital for Financial Investments (20%), Grand Investment for Leasing (20.25%) and Grand Investment for Trading (29.5%).