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Emaar closes $142m deal for Egyptian subsidiary - Daily News Egypt

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Emaar closes $142m deal for Egyptian subsidiary

CAIRO: Officials at Emaar Properties announced that the company has completed a $142 million deal to take full ownership of its Egyptian subsidiary, Emaar Misr, Guf News reported. They explained that Emaar Misr, which has a share base of 37.73 million of which 60 percent were held by Artoc Group for investment and development, is …


CAIRO: Officials at Emaar Properties announced that the company has completed a $142 million deal to take full ownership of its Egyptian subsidiary, Emaar Misr, Guf News reported.

They explained that Emaar Misr, which has a share base of 37.73 million of which 60 percent were held by Artoc Group for investment and development, is now under 100 percent ownership of Emaar UAE.

They pointed out that Emaar made the deal in order to maximize its opportunities in Egypt as soon as possible before the entrance into the market of other UAE and Turkish developers.

Topics: FJP

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https://www.dailynewsegypt.com/2007/04/02/emaar-closes-142m-deal-for-egyptian-subsidiary/
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