OCI N.V Sells 23% Stake In Orascom Construction Industries To OCI MENA N.V

By Amwal Al Ghad English On Feb 4, 2015

Egypt’s Orascom Construction Industries (OCI) (OCIC) reported on Wednesday that OCI N.V. sold a 23.425% stake to OCI MENA B.V.

OCI said OCI MENA B.V bought 48.9 million stocks, in a deal worth LE12.4 billion.

OCI MENA B.V. increased its stake in OCI to 98.8%.

Egypt’s financial regulator agreed on Tuesday to exempt from presenting a mandatory tender offer for Orascom Construction Industries.

Source: EGX & Arab Finance Editor