Cairo – Mubasher: The board of directors of Raya Holding for Financial Investments approved the sale of its 62.3% stake in Ostool for Land Transportation to Paradigm Logistics LLC.
The transaction involves the sale of 53.959 million shares for EGP 266.559 million, averaging EGP 4.94 apiece, Raya Holding said in a bourse disclosure on Wednesday.
During 2020, Raya Holding suffered consolidated net losses of EGP 45.68 million, down by 46.3% year-on-year (YoY) from EGP 85.1 million a year earlier, including minority shareholders’ rights.
