Cairo – Mubasher: Hassan Allam Sons has acquired a 60% stake in Power Generation Engineering and Service Co. (PGESCO) in a transaction worth EGP 421 million.
The sold share accounts for 20% of the Commercial International Bank’s (CIB) stake in PGESCO, while the remaining 40% stake distributed over 20%,15% and 5% for Saud Consultant Group, BPE Power and BPE Holding, respectively, Almal News reported, citing chairman of BPE Holding for Financial Investments Hazem Barakat.
The independent law firm Matouk Bassiouny was the legal advisor of Hassan Allam Sons, and Beltone Financial Holding was the broker and arranger of the transaction, Barakat highlighted.
