Global Investment Holdings acquires shares in Oriental Corporation

Global Investment Holdings acquires shares in Oriental Corporation

Last November, Global Investment Holdings acquired a larger stake.

The investor acquired a 3.3% stake in Oriental for 2.05 billion Egyptian pounds ($66.55 million), Ahram Online said, citing an announcement from the Egyptian Exchange.

The acquisition is carried out as a block transaction, usually by a single investor or a group of investors in the market.

In November last year, the United Arab Emirates' Global Investment Holding Company acquired a 30% stake in Orient Petroleum Company for 16.4 billion Egyptian pounds.

After the transaction, the remaining shareholders are the State-owned Chemical Industry Holding Company (20.9%), Allen Gray Stock Fund (7.2%), Oriental Tobacco Company Shareholders Alliance, etc., and the remaining 6% of the shares are traded on the stock market trade.

Eastern Corporation is included in the government's list of 35 companies to be partially or fully privatized.
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