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Monday, 17 February 2020

Mwasalat Misr eyes growth through bus operator High Jet

M&A WATCH- Mwasalat Misr eyes growth through bus operator High Jet: Mwasalat Misr is considering purchasing transport company High Jet, which currently services 14 cities with a 60-bus fleet, to expand its operations to include cross-governorate transport, reports Al Mal. The company is expected to reach an agreement in the coming weeks, two sources familiar with the talks said, without disclosing the value of the acquisition.

Background: Mwasalat Misr currently operates seven bus lines between Sixth of October and Sheikh Zayed to Abdel Moneim Riad and Cairo University. The company just launched its first electric buses on a route it operates between Abdel Moneim Riad square and New Cairo earlier this month and plans to have its fleet entirely made up of electric buses by 2022.

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