Orascom Investment Holding
As per standalone results, Orascom recorded a loss of LE 129.57 million, compared to LE 33.96 million during the first quarter of 2018.
The board of directors of Orascom Investment Holding Company (OIH) proposed an increase in the company's capital to LE 6.25 billion after approval of the acquisition of Nile Sugar Company.
Orascom Investment Holdings’ board of directors ratified the approval of the independent financial advisor’s report (BDO Financial Consultants), which has set the fair value of the share capital of Nile Sugar Company SAE at LE 2.84 per share.
The company stated that it does not need any additional approvals or exemptions from the Security Council to conduct its business.
The Supreme Council of Antiquities signed a contract with Orascom Investment Holding to provide Giza Pyramids' visitors with services, with the council having the sole right to manage the area.
The board of directors of Orascom Investment Holding approved to obtain a term facility of up to $170 million from the African Export-Import Bank.
The Egyptian Financial Supervisory Authority (EFSA) announced Sunday that it has received a tender offer from Orascom Investment Holding (OTH) to buy capital shared of the Sarwa Capital company.
Orascom intends to make an optional purchase offer for two cases: the first is to acquire 216.03 million shares at the offer price of LE 7.36.
Sarwa Capital’s share hiked 10 percent, reaching LE 6.17, by 11:46 am after Orascom Investment Holding announcement to purchase non-controlling stake of Sarwa shares.
EFG Hermes acted as the brokerage company for executing the transaction on Telecom Egypt’s side.