Arab Finance: Arab Moltaka Investments Company (AMIA) has signed a subscription agreement to join a consortium of investors holding shares in Expedition Investment, a company incorporated according to the laws of Mauritius, according to a filing to the Egyptian Exchange (EGX) on June 16th.

The company has invested EGP 50 million in Expedition Investment for a stake that has not been disclosed yet.

Arab Moltaka also pointed out that Expedition Investment’s preliminary non-binding acquisition offer for a 90% in Arabian Food Industries Company (Domty) (DOMT) is neither final nor binding and is contingent on the results of the due diligence and relevant approvals.

It is worth noting that Arab Moltaka’s consolidated net profit excluding minority interest amounted to EGP 16.902 million in Q1 2022, down from EGP 49.136 million in the same quarter a year earlier.

AMIC invests in a diversified range of economic sectors covering a broad spectrum including industrial and agricultural investments, land reclamation and cultivation, livestock development, fisheries, real estate investments, and tourism.