ArabFinance: Marsa Marsa Alam for Tourism Development (MMAT) decided to sell its 8.237% stake in El Ahram for Printing and Packing, according to statement to the Egyptian Exchange (EGX).
The board of directors agreed to assign the chairman of the board Shahinaz Mohamed Salim in selling the company’s ownerships in other EGX-listed companies, according to another statement.
The proceeds of the sale are expected to be used in financing the company’s plans and operations.
Marsa Masra Alam, formerly Marsa Alam for Touristic Development (MATD), a member of Kharafi Group, is an Egypt-based company that is engaged in the development and construction of different touristic communities and villages.