Raya Holding signed an agreement to acquire 27.69% ownership stake in Ostool for Land Transport which is currently owned by Egyptian Gulf Holding Financial Investments. After the successful closure of this acquisition, Raya Holding will own 90% of Ostool’s capital according to its Egyptian Exchange (EGX) disclosure.

In 2021, Raya Holding had plans to sell their 62.3% stake in Ostool for Transportation to Paradigm Logistics for LE 266.6 million with a total of 53.959 million shares, had an average price per share within the deal of 4.94 pounds. However, the transaction was not finalized.

Earlier this week, private equity firm B Investments’ board of directors (BoD) has officially approved the company’s mandatory purchase offer (MTO) to acquire 90% of Orascom Financial Holding Company (OFH), according to an EGX filing.

The MTO will be executed through a share swap, without a cash option, of up to 4.2 billion shares (90% of OFH) with a swap ratio of 1 B Investments share per 56.76 shares of OFH.