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Wednesday, 12 February 2020

Raya receives a bid for 31% stake in its transport arm

M&A WATCH- Raya receives a bid for 31% stake in its transport arm: Raya Holding has received a EGP 133 mn non-binding offer from British Virgin Islands-based Paradigm Logistics to acquire a 31% stake of its Ostool Shipping Company, according to a regulatory filing (pdf). Raya currently holds a 62.3% stake in Ostool, which was founded in 2010 by Raya Corp and Qalaa Holdings and provides a range of transportation and logistics services. The company’s board of directors will meet today to review the offer.

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