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Wednesday, 5 August 2020

MNHD green-lights Odin due diligence on El Nasr Civil Works

M&A WATCH- MNHD gives Odin Investments green light to start due diligence on El Nasr Civil Works: Madinet Nasr Housing & Development’s (MNHD) board of directors has given Odin Investments approval to begin due diligence on El Nasr Civil Works, MNHD said in a regulatory filing (pdf). Odin, along with other unidentified inventors, is looking to acquire a 90% stake in the company, first expressing interest last week. MNHD owns a 52.5% stake in El Nasr, while the Holding Company for Construction & Development (HCCD) holds a 19.3% stake, El Nasr worker’s union holds 5% and the remaining shares are listed on the EGX.

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