PHOTO
Cairo – Egypt Gas has raised its stake in the Egyptian Co. For Natural Gas Distribution in Cities (Town Gas) to 41%.
The deal included the purchase of 11% stake in Town Gas from the Egyptian Natural Gas Company (GASCO), according to a statement to the Egyptian Exchange (EGX) on Tuesday.
The ownership of 19.4 million shares in Town Gas has been transferred to Egypt Gas as of 2 March.
It is worth mentioning that for the full-year 2019, Egypt Gas posted net profits of EGP 164.96 million, up from EGP 35.16 million in the previous year.
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.
