Pioneers Holding’s extraordinary meeting agrees to split into 3 firms

The extraordinary general meeting (EGM) of Pioneers Holding Company for Financial Investment has approved to split the company into three separate companies.

The companies will be specialised in the financial services, real estate and contracting, and industrial sectors, according to an EGX disclosure.

The EGM has also agreed on authorising the board to set and approve the financial position necessary for the transaction.

During the meeting, the board’s chairman or whoever delegated was authorised to proceed with the division measures at the Financial Supervisory Authority and the General Authority for Investment and Free Zones (GAFI).