Arab Finance: Ragab Sons, one of the largest retail chains in Egypt, is seeking to sell assets worth EGP 850 million before the end of this year to settle debts, Asharq Business reported on September 6th, citing unnamed source familiar with the matter.
These assets include eight branches, a factory, and a warehouse, according to the source.
Established in 1970, Ragab Sons will also utilize proceeds from the assets sale to settle debts due to leasing firms and a number of lenders, as well as to resume operations at branches in Cairo, Giza, and four other governorates.