FINANCIAL NEWS

Egypt-Raya Holding obtains Lazah for EGP80mn

03 Apr 2017

(MENAFN) Raya Holding proclaimed that it’s acquiring 100 percent of the shares of the International Union for Integrated Food Industries (Lazah) amid the Egyptian Exchange.

Accordingly, the number of shares amounted to 5mn shares, valued at EGP66.85mn, while the firm will also be committed to paying all of Lazah’s dues.

In Oct 2016, the company confirmed to enter talks in order to obtain a regional integrated food industries firm, while in Dec, it inked a deal to acquire 100 percent of Lazah’s shares.

The firm owns 11 subsidiaries; Raya Contact Center, Raya Data Center, Raya Info Tech, Raya Intl Services, Raya Smart Buildings, Raya Social Media, Raya Trade and others.

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MENAFN0304201700450000ID1095365011

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