Acquisitions and Mergers
Upon the successful closure of this acquisition, Raya Holding's ownership in Ostool will increase to 90 percent, as disclosed by the company on the Egyptian Exchange (EGX)
The sale involved 3.5 million shares valued at LE 44.66 million valued at almost $1.45 million.
This comes in the framework of Intesa Sanpaolo's plan to boost their investments in Egypt and expand in financing small and medium projects (SMEs).
The deal entails these companies: Egyptian Sponge Iron and Steel Company, Egyptian American Steel Rolling Company, and International Steel Rolling Mills Company account for most of Beshay’s production.
The acquisition of Cash will be executed through the company and a number of its subsidiaries.
