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Egypt is considering merging Maadi for Development and Construction and El Nasr Housing and Development Company, according to informed sources on Tuesday.
This comes with the goal of selling a stake to a strategic investor. The potential merger’s evaluation is currently pending the approval of the financial statements for the fiscal year (FY) 2022/2023 of both firms.
The idea of merging both companies was proposed by the Sovereign Fund of Egypt (TSFE).
