According to Bloomberg, the PIF is almost done with its due diligence on the transaction and plans to purchase the bank through its Egypt-based investment vehicle
The company will have acquired 55% of Vodafone Egypt in a block trade transaction on the EGX last week for an estimated EGP 59.7 billion ($2.4 billion), amounting to 132 million shares
Completing the integration will contribute to strengthening the size of the new entity and its local presence across the country, explained FABMISR CEO Fayed
SODIC aims to fully acquire the company from parent company Orascom Development Egypt, according to a statement to the Egyptian Exchange (EGX) today
Bloomberg Asharq previously reported the potential deal back in early September, stating that QIA was negotiating to purchase 25% of Vodafone Egypt
