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GB Auto’s unit to indirectly sell 45% stake in GB Lease

GB Auto’s unit to indirectly sell 45% stake in GB Lease

Arab Finance: The board of directors of GB Capital for Financial Investments, a subsidiary of GB Auto (AUTO), agreed to sign an agreement with Chimera Abu Dhabi to indirectly sell a 45% stake in GB Lease, according to a disclosure published on September 6th.

The deal is subject to the requisite regulatory approvals as per the relevant laws.

The transaction could be sealed upon the fulfillment of the necessary approvals from the Financial Regulatory Authority (FRA), relevant bodies, and GB Auto’s board of directors.

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.

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