ArabFinance: GB Auto (AUTO) denies entering into an agreement regarding its non-banking financing subsidiary MNT-Halan, according to a statement filed to the Egyptian Exchange (EGX) on August 25th.

The company said that it will notify competent authorities and shareholders once a definitive agreement is reached.

It is worth noting that GB Auto owns 57.26% of MTN-Halan’s shares.

GB Auto is an Egypt-based automotive that operates in trading, distributing, and marketing all transportation means, including heavy trucks, semi-trucks, passenger cars, buses, agriculture tractors, and pick-ups.