Mena denies talks over stake sale

Updated 10/27/2020 8:35:00 AM

ArabFinance: Mena for Touristic and Real Estate Investment (MENA) refuted discussions with FAM Holding over a stake purchase in the former, according to a statement filed to the Egyptian Exchange.

The statement came after the local press reported that FAM intends to buy AREF Investment Group and Lamar Holding’s stakes in Mena.

The real estate company incurred a consolidated net loss of EGP 11,582,117 in the first half of 2020, against EGP 13,645,923 posted in the prior-year period.

Mena, established in 1980, operates in the fields of construction, real estate investment, project management, and urban development both locally and internationally.