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Thndr Claps » EGY Claps » Mergers & Acquisitions 🤝 » Madinet Nasr Housing Agrees to Acquire Two Real Estate Companies🏘

Madinet Nasr Housing Agrees to Acquire Two Real Estate Companies🏘

by Shams Abbas
December 14, 2021

Madinet Nasr for Housing and Development (MNHD) agrees to acquire two real estate companies & increase capital.

More Details🧐 MNHD board of directors (BoD) approved the acquisition of Mink for Real Estate Investment & EGYCAN Properties for a combined total of EGP 232 million, after an independent fair value study of both companies.

MNHD’s BoD also agreed to increase the company’s issued capital by EGP 374.4 million, raising it to EGP 1.872 billion from EGP 1.498 billion. MNHD will issue 374.4 million shares at a par value of EGP 1/share.

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