Acquisitions
CPME aims to complete acquisitions of target companies within two years from the date of its listing, explained the FRA statement.
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 acquisition of Cash will be executed through the company and a number of its subsidiaries.
If confirmed, the acquisition deal is expected to be finalized by the fourth quarter of 2023, according to the source, who further added that Zanussi’s sales, maintenance, and technical support operations in Egypt would not be affected.
The acquisition is now conditional on the approval of the shareholders at a general assembly meeting that will take place on 14 May, Mohamed Gamal Moharam, Chairman of Egytrans, said
Infosys, India’s No.2 IT services company, named Salil S Parekh as chief executive on Saturday.
German consumer goods group Henkel may further expand its business in the United States via acquisitions, Chief Executive Hans van Bylen said.
EGX Chairman reviewed the achievements of the stock exchange during his four-year tenure in a farewell speech.
EGX market capital jumped 114 percent to more than LE 366 billion, while acquisitions and mergers surged to LE 45 billion from 3013 to 2017.
