Cairo – Mubasher: Middle East Glass Manufacturing Co. said it obtained a loan worth EGP 432.5 million from its shareholders.
These shareholders are Mac Investments Co. that owns a 51.43% stake inthe company and MTM Packaging 2 that owns a 35.90% stake.
The firm pointed out that the loan is zero interest and it will be used to meet the financial obligations of regards the deal of acquiring 100% of Misr Glass Manufacturing Co.(MGM).
Middle East Glass stated earlier that its 99.9%-owned subsidiary MEG Misr Glass has signed an agreement to buy 100% of MGM stocks for EGP 735,500.
