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SODIC moves away from MNHD acquisition plan and looks to alternatives

In a separate interview with Al Arabiya, Sherif mentioned that Aldar Properties, which owns the majority stake of SODIC, has a strategy to expand in Egypt that includes new acquisitions

MNHD shareholders veto SODIC’s offer, echoing BoD message of “too low”

In a shareholder meeting during a general assembly yesterday, a majority of shareholders vetoed SODIC’s request to begin due diligence

Madinet Nasr for Housing and Development rejects SODIC’s acquisition offer

However, MNHD’s board of directors added that it would reassess its decision if SODIC submits an offer that matches the company’s fair value

SODIC announces intention to acquire MNHD

The Financial Regulatory Authority has revealed that it received a non-binding purchase offer from SODIC for MNHD’s shares