These investments will be injected to purchase the assets of Cairo Cotton Center, the company said in a statement to the Egyptian Exchange (EGX) on Monday.
The company noted that it has not completed the due diligence process of the transaction yet.
In March 2019, Dice signed a letter of intent with Cairo Cotton Center and the Commercial International Bank – Egypt (CIB) to purchase the leased assets of Cairo Cotton Center.
It is worth mentioning that during January-September period of 2019, Dice’s net profits grew to EGP 125.29 million from EGP 112.06 million in the year-ago period, including minority shareholders’ rights.
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