Cairo – Mubasher: The extraordinary general meeting (EGM) of Remco for Tourism Villages Construction has approved the offer made by an expertise house company, Technolease Leasing Company, to acquire Remco for Real Estate Construction’s 99.95% stake in Orient Tours.
Remco owns a 99.87% stake in Remco for Real Estate Construction.
It is noteworthy to mention that on 8 March, the company's board approved a valuation report conducted by Solid Capital Financial Advisory on the transaction.
In the report, Orient Tours for Hotels and Touristic Villages has been valued at EGP 1.09085 billion, and Remco for Real Estate Construction’s stake has been estimated at EGP 1.0903 billion or EGP 1,363 per share.
