ArabFinance: ElTarek Automotive has acquires a 23% stake in International Company for Leasing (Incolease) (ICLE) in a transaction worth a total of EGP 189 million, according to a bourse filing.

This came after ElTarek Automotive purchased 4.6 million shares in Incolease at an average price of EGP 41 per share.

Incolease is an Egypt-based company engaged in the provision of customer service and personalized financial solutions.

The company leases a range of assets, including commercial vehicles, machinery, information technology equipment, production lines, real estate, and other tangible and intangible long-term assets.