Egypt’s NSPO takes 20% stake in TAQA Arabia

Egypt military’s National Service Project Organisation (NSPO) acquired 20 percent of shares in TAQA Arabia, according to a EGX bourse filing on Monday.

NSPO acquired the shares for 1.6 billion Egyptian pounds ($51.86 million), according to the disclosure viewed by Reuters.

TAQA Arabia made its debut on EGX in early July. While, EFG Hermes, the bank that worked on the sale, declined to comment.