An Emirati company acquires 30% of the shares of “eastern smoke " for 625 million dollars

The Egyptian government announced the acquisition of an Emirati company's stake in the eastern smoke company “Eastern company“.

Over the past few days, a lot of news and reports have been circulating about the sale of a stake in the eastern smoke company, which acquires the largest share in the smoking market in Egypt.

The Egyptian prime minister, Dr. Mustafa Madbouly, witnessed on Sunday the signing ceremony of an agreement to acquire 30% of the total shares of the eastern company “eastern company”, in favor of the UAE “Global Investment Holding Limited”.

The agreement was signed by the Executive Managing Director of the holding company for chemical industries, Emad al-Din Mustafa Khalid, and the representative of Global Investments Holding Company Limited, Sheikha lubni Al-Qasimi.

According to a statement, the minister of the business sector in the Egyptian government, Mahmoud Esmat, said that under the agreement signed today, "Global Investment Holding Co. Ltd. acquires 30% of the total shares of the eastern company” eastern company" worth 625 million dollars equivalent to about 19.336 billion pounds, with the buyer providing an amount of 150 million dollars to purchase

Source : alarabiya