Arab Finance: Arab Company for Tourism and Hotels Investments (ICON), a subsidiary of Talaat Moustafa Group Holding (TMG Holding), is leading a consortium to complete the acquisition deal of Egyptian historic hotels, a source familiar with the matter told Asharq Business on December 19^th.

All details of the deal have been agreed upon and will be announced on December 20^th, according to the source.

In November, Head of The Sovereign Fund of Egypt (TSFE) Ayman Soliman told Reuters that Egypt would conclude the sale of seven hotels, including historic ones, by the end of 2023.

The hotels include Sofitel Legend Old Cataract Aswan, Sofitel Winter Palace in Luxor, Marriott Mena House in Cairo, and Steigenberger Cecil Alexandria.

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