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Tuesday, 27 August 2019

Egypt signs USD 500 mn agreement with India’s LuLu Hypermarket

INVESTMENT WATCH- Egypt signed a USD 500 mn agreement with India’s LuLu Hypermarket on Monday for four new retail outlets in Sixth of October City, New Cairo, and Obour City, the cabinet said in a statement. The company is also planning to build two logistics centers from which it will be targeting exports, particularly frozen fish, to markets in the GCC and Europe, the cabinet previously said.

Advisers: Arab Legal Consultants acted as counsel on the transaction.

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