Raya Holding to acquire 27.69% stake in Ostool for Land Transport Company

Updated 12/13/2023 10:01:00 AM
Raya Holding to acquire 27.69% stake in Ostool for Land Transport Company

Arab Finance: Raya Holding for Financial Investments (RAYA) has signed an agreement to acquire a 27.69% ownership stake in Ostool for Land Transport Company, owned by Egyptian Gulf Holding for Financial Investments, according to a statement issued on December 13th.

The process of transferring shares is currently ongoing, the statement added.

After the transaction, Ostool’s capital will be 90% owned by Raya Holding.

Established in 1999 and listed on EGX in 2005, Raya Holding operates within the software and services sector, focusing on information technology consulting and other services.

It has subsidiaries across North America, the British Islands, Northern Africa, Western Africa, and the Middle East.

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