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Cairo National okays sale of stake in Alexandria National

Cairo National okays sale of stake in Alexandria National

ArabFinance: Cairo National for Investment and Securities’ board of directors approved the sale of its 40.96% stake in Alexandria National Company for Financial Investment, according to a January 21st disclosure.

The company did not reveal further details on the transaction value or its timeline.

The board gave the go-ahead to an offer submitted by Amr Abou el Oyoun to buy Cairo National's 23.36% stake in Assiut Islamic National for Trading and Development at EGP 28.5 per share.

Earlier, Cairo National subsidiary, Alexandria National, got an acquisition offer from Kayan for Sustainable Development.

Cairo National invests in the start-up business and provides securities exchange related services. Its main purpose is to promote and underwrite securities, participate in the establishment of companies that issue securities, and portfolio management.

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