Al-Mansour Holding Transfers Its Metro Market Shares To Its Subsidiary In Egp 118M Transaction
Date
8/14/2023 2:41:49 PM
(MENAFN- Daily News Egypt) Daily News Egypt learned that Al-Mansour Holding completed a restructure of its shares in Metro market chain, in a deal valued at about EGP 118m.
The sources added that the restructure process included a transfer of Metro Market to one of the group's subsidiaries. Al Rowad for Securities Brokerage acted as the broker of the deal for both sides, and the transaction was conducted through 5 operations on 11.78 million securities.
The deal helped Al Rowad lead the ranking of brokerage firms at the beginning of the week. The company conducted EGP 368.5m worth of transactions on 25.7 million shares through 72 operations, capturing a market share of 12.4%.
Al-Mansour Group owns Al-Mansour Holding for Financial Investments, the largest distribution group in Egypt, providing a range of consumer goods through 130,000 outlets across the country and employing more than 8,000 people.
The company owns the Kheir Zaman retail chain, which serves the middle class, in addition to Metro which targets the upper segments of society.
According to the website, Al-Mansour Holding Company for Financial Investments was established in 1992, with a combined revenue of about $7.5bn.
MENAFN14082023000153011029ID1106854417
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.