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Wednesday, 7 October 2020

Makkasa Sport chairman bids for Misr Lel Makkasa SC after resigning from post

M&A WATCH- Makkasa Sport chairman Amr Mostafa Kamel has reportedly made an offer to purchase 100% of Misr Lel Makkasa Sporting Club after resigning from his post, the local press reports, citing sources with knowledge of the matter. Kamel is reportedly looking to buy the club through his company I Friends Sport, the sources said, without disclosing the value of the offer. Saudi investor Turki Al Shikh and state0owned Estadat are reportedly also in the running to acquire part or all of Misr for Central Clearing, Depository and Registry’s (MCDR) 71% stake in Makkasa Sport. Sources close to MCDR said it had received three offers for its stake and will make a decision on the sale in the next month.

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