Aldar Properties
Regarding Aldar's acquisition of Madinet Nasr for Housing and Development (MNHD), Al-Dhiyabi said that the MNHD rejected the proposals submitted by the Emiriti company til the latter raises its purchase offer.
The company said in a statement to the Egyptian Exchange (EGX) that the offer included a potential cash acquisition of a stake of not less than 51 percent of the issued company’s capital.
SODIC added in a statement to the Stock Exchange, Sunday, that the estimated purchase price is between LE 18 and LE 19 per share, through a compulsory purchase offer on the entire company's shares.
The company was seeking to enter the Egyptian market in 2020, but the coronavirus pandemic hindered this matter, and plans to enter it were postponed until this year.
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