Egypt's Remco hires Alfa Capital to set fair value of Empain Tourism

Remco has intended to exit Empain by selling the entire stake of the former unit, Remco for Real Estate Construction

  
Traders work at the Egyptian stock exchange in Cairo, March 12, 2015.

Traders work at the Egyptian stock exchange in Cairo, March 12, 2015.

REUTERS/Mohamed Abd El Ghany
Egypt - Remco for Tourism Villages Construction (RTVC) hired an independent financial advisor Alfa Capital to prepare the fair value study of Empain Tourism Investments Company, according to filing to the Egyptian Exchange.

Remco has intended to exit Empain by selling the entire stake of the former unit, Remco for Real Estate Construction.

Earlier, Remco approved the appointment of Dar El Khebra for Evaluation and Engineering Consulting to assess the value of Empain.

Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.

The company acquires plots of land, designs the development, sells individual units, and retains ownership of public areas such as hotels, landscaped areas, housing complexes, beaches, and water and sewage treatment plants.

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