Egypt mulls merging Maadi for Development, El Nasr Housing

Updated 7/25/2023 12:07:00 PM
Egypt mulls merging Maadi for Development, El Nasr Housing

Arab Finance: The Egyptian government is probing the merger of Maadi for Development and Construction and El Nasr Housing and Development Company, with the aim of selling a stake to a strategic investor, two sources familiar with the matter told Asharq Business on July 25th.

The potential merger’s evaluation is pending the approval of the financial statements for the fiscal year (FY) 2022/2023 of both firms, one source noted.

The source added that the merger idea was proposed by the Sovereign Fund of Egypt (TSFE).

Related News