Cairo – Mubasher: Qalaa Holdings said Sunday that MENA GLASS LTD, a subsidiary, signed two agreements to exit Misr Glass Manufacturing and United Company for Glass Bottling, in a deal worth EGP 828 million ($107.92 million).
MENA GLASS and a number of other shareholders in Misr Glass Manufacturing signed an agreement to sell their entire equity in the company to Middle East Glass Manufacturing, Qalaa added.
Middle East Glass said in November that one of the parties of the preliminary contract of acquiring 100% of Misr Glass sent a letter of intent expressing its intention to cancel the final sale contract.
The letter included a request from the company to get back an amount EGP 23 million which was paid as part of the preliminary agreement.
