The Egyptian government sells its stake in a large company to Saudi Arabia for 8 pounds per share

The holding company of sea and land transport reduced its share in the capital of Alexandria Container and Cargo Handling Company from 55.37% to 35.37%.

The transport holding sold 297.95 million shares of Alexandria Container Handling for a total value of £3.02 billion at an average sale price of £8.11 per share.

EGX management announced the completion of a major share deal in Alexandria Container and Cargo Handling worth £3.02 billion.

The exchange indicated that 297.95 million shares of Alexandria Container Handling shares were traded through BLOCK TRADING in yesterday’s session, with a total transaction value of £3.02 billion including the transfer of ownership. .

Saudi Egyptian Investment Company, a subsidiary of the Saudi State Investment Fund, has acquired stakes in 4 Egyptian companies.

The list of companies included: E-Finance for Financial and Digital Investments, Abu Qir Fertilizers and Chemical Industries, Mobco and Alexandria Container Handling.

According to Egyptian Stock Exchange disclosures, the fund’s market transactions were totaling $1.3 billion, as 462 million shares of E-Finance were acquired at a price of £15.98 per share, with a total value of about £7.5 billion. billion pounds.

The Fund bought 297 million shares of Alexandria Container Handling Company at £10.06 per share for £3.02 billion.

The fund’s third deal was with Abu Qir Fertilizers by purchasing 250 million shares at £29.07 for a total of £7.27 billion.

The Saudi Sovereign Fund bought 57 million Mobco shares at £123.9 per share for a total value of £7.1bn.

Source: Egyptian media.

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