Orascom Development Holding Mulls Sale of 10-15% of Egyptian Subsidiary

By Yomna Yasser On Nov 25, 2014

Orascom Development Holding AG said on Tuesday it is evaluating the sale of 10-15% of its Egyptian subsidiary.

In the statement, it added that it is considering the offer to sell a stake in Orascom Hotels and Development (OHD) (ORHD) to reactivate its trading on the Egyptian Stock Exchange.

Orascom Development added that it will re-inject the proceeds of the sale, if conducted, to support its ongoing operations and deleverage its balance sheet.