Cairo – Ghabbour Auto (GB Auto) signed a partnership agreement with SAIC Motor Middle East to add MG Brand to its portfolio in Iraq.
GB Auto was selected to market, distribute, and provide aftersales and warranty services for fully-imported models produced by MG Internatioanl in Iraq, according to a bourse disclosure on Tuesday.
Operations are forecast to begin by the end of the third quarter or the beginning of the fourth quarter of 2020.
It is noteworthy to mention that in 2019, GB Auto’s net profits plunged to EGP 223.55 million from EGP 672.3 million in 2018, including minority shareholders’ rights.
Source: Mubasher
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