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Tuesday, 25 September 2018

Orascom Investment to acquire entire stake of Nile Sugar by year-end

M&A WATCH- Orascom Investment to acquire entire stake of Nile Sugar by year-end. Orascom Investment Holding (OIH) will acquire all the outstanding shares of Nile Sugar by the end of this year, Naguib Sawiris told CNBC Arabia, adding that due diligence on the transaction is ongoing. OIH is currently prioritizing investment in the financial, real estate, agriculture, and logistics sectors.

OIH is also planning to acquire a defunct juice and dairy plant, said Sawiris, who refused to disclose further details on the value of the acquisition, the plant’s product range or location. Meanwhile, OIH is also in “advanced” talks with the Housing Ministry over a land plot in downtown Cairo. Sawiris also remained tight-lipped on this venture, and did not provide any details on what OIH plans to do with the land (watch, runtime: 2:04).

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