ArabFinance: Cairo Oils and Soap’s (COSG) extraordinary general meeting (EGM) has approved selling its factory in Cairo’s district of Ghamra, according to a filing to the Egyptian Exchange (EGX) on Wednesday.

Procedures for the transaction have not been initiated yet, and no offers were received, the company said.

It is worth noting that Cairo Oils’ loss after tax hiked to EGP 124.132 million in 2021, from EGP 78.127 million in 2020.

Cairo Oils, a subsidiary of the Holding Company for Food Industries, is an Egypt-based holding company engaged in the manufacture, processing, packaging, import, export, and distribution of different types of seeds for the production of oil and soap.

The company primarily uses cotton seeds and soya beans for processing and producing cooking oil, soap, and detergent products under several brands.