Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC) has purchased the stake of the National Bank of Kuwait (NBK) in Alexandria Specialty Petroleum Products Company (ASPPC) at a value of EGP 12 million.
The transaction was implemented over around 104,000 shares, accounting for a 5.2% stake of ASPPC, AMOC said in a filing to the Egyptian Exchange (EGX).
AMOC previously reported a 37% year-on-year decline in profits for the first quarter of fiscal year 2018/2019.
Net profit amounted to EGP 253.09 million in the three-month period ended September, from EGP 402.6 million in the prior-year period.
