Arab Finance: UAE's Global Investments Holding has wrapped up the previously signed deal to acquire 30% stake in Eastern Company.
Global Investments purchased 669 million shares in Eastern Company for EGP 16.404 billion, according to a disclosure by the Egyptian Exchange (EGX).
Established in 1920, the company manufactures tobacco products, such as cigarettes, cigars, pipe tobacco, and molasses tobacco (Moassels), as well as other related products, such as cigarettes’ filter rods and homogenized tobacco.