El Nasr Manufacturing rejects Sohag land purchase offer
Updated 11/23/2020 10:54:00 AM
ArabFinance: El Nasr Manufacturing Agricultural Crops turned down Sohag Housing and Development Company's offer to purchase the former's land in Sohag, according to the company’s November 22nd statement filed to the Egyptian Exchange.
The decision came after Sohag Housing failed to pay a down payment worth EGP 10 million for the land.
Earlier, Sohag Housing offered to buy the 64,000 square meter land plot for a total amount of EGP 650 million.
El Nasr Manufacturing is an Egypt-based public shareholding company that operates in the food processing sector. It is primarily engaged in the dehydration, distribution, and export of agricultural crops, including onions and other vegetables. The company is also engaged in the manufacture and export of dehydrating equipment and machinery.
