Cairo-Mubasher: Cairo Poultry Co. said it was cleared by shareholders on Saturday to conclude compensation contracts to sell its stake in EK Holding to Gulf Food.
The sale aims to raise hard currency to meet the requirements of importing various products such as corn, soybeans or chicks.
Gulf Food is a related party of Kuwait Food Co. (Americana) that is a shareholder in Cairo Poultry.
On 16 February, shareholders approved cash dividends at EGP 0.50 a share.
Consolidated financial statements for the fiscal year 2015 reflected a 77.8% surge in net earnings compared with a year earlier.
