Cairo – The board of directors of Mansoura Poultry has approved the purchase offer submitted by Ahmed Gomaa El-Desouky to buy the company's entire stake in El-Safwa Poultry (Koko).

The board agreed to sell Mansoura's entire stake in Koko for EGP 10 million or EGP 13.23 per share, according to a bourse disclosure on Thursday.

Mansoura owns 756,000 shares in Koko, representing 24% of the company’s capital.

During the first half (H1) of 2022, Mansoura Poultry turned profitable, gaining EGP 2.46 million in net profits, against net losses of EGP 8.86 million in H1-21.

Revenues for the January-June period in 2022 jumped by 69.60% yearly to reach EGP 89.72 million.

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