Cairo – The board of directors of Oriental Weavers Carpet agreed to exit from its existing investments in China.
Hence, the EGX-listed firm will accept the submitted offer to sell its entire stake in Oriental Weavers China, according to a stock exchange filing on Wednesday.
Further relevant details will be announced following completion of the transaction, the statement added.
In December 2021, the company authorised the executive management to conduct a study and make a decision on whether to sell or liquidate its subsidiary in China.
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