Cairo –  The Egyptian Company for International Touristic Projects (Americana Group) and Cairo Poultry announced the completion of sale of the Egyptian Starch and Glucose to Cairo Three A for International Industries.

On 11 May, Americana Egypt and Cairo Poultry sold 11.63 million shares and 13.65 million shares, respectively, the two companies said in separate statements to the Egyptian Exchange (EGX) on Tuesday.

The transaction was executed at a price of 8.6 per share.

In April, the Egyptian Financial Regulatory Authority (FRA) approved a request to publish the MTO submitted by Cairo Three A for International Industries to acquire the Egyptian Starch and Glucose.

During 2019, the Egyptian Starch and Glucose suffered net losses of EGP 17 million, down from EGP 74.3 million in 2018, while its sales rose to EGP 967.8 million from EGP 909.2 million.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.