OCI N.V Sells 23% Stake In Orascom Construction Industries To OCI MENA N.V

Egypt’s Orascom Construction Industries (OCI) (OCIC) reported on Wednesday that OCI N.V. sold a 23.425% stake to OCI MENA B.V.

OCI said OCI MENA B.V bought 48.9 million stocks, in a deal worth LE12.4 billion.

OCI MENA B.V. increased its stake in OCI to 98.8%.

Egypt’s financial regulator agreed on Tuesday to exempt from presenting a mandatory tender offer for Orascom Construction Industries.

Source: EGX & Arab Finance Editor