Cairo– Mubasher: Dice Sport and Casual Wear is looking to invest about EGP 150 million in expansions during 2020.
These investments will be injected to purchase the assets of Cairo Cotton Center, the company said in a statement to the Egyptian Exchange (EGX) on Monday.
The company noted that it has not completed the due diligence process of the transaction yet.
In March 2019, Dice signed a letter of intent with Cairo Cotton Center and the Commercial International Bank – Egypt (CIB) to purchase the leased assets of Cairo Cotton Center.
It is worth mentioning that during January-September period of 2019, Dice’s net profits grew to EGP 125.29 million from EGP 112.06 million in the year-ago period, including minority shareholders’ rights.
Source: Mubasher
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