.
.
.
.

Egypt's Pioneers Holding board to buy up Cairo for Housing and Development

The purchase brought Pioneers Holding’s total ownership to 45.73 percent

Published: Updated:

Egypt’s Pioneers Holding said on Sunday its board had approved an offer to purchase remaining shares of Cairo for Housing and Development at a price of 11.80 Egyptian pounds ($1.51) per share for a full acquisition.

The firm said in a bourse disclosure that a subsidiary of Pioneers had purchased a 9.07 percent stake in Cairo for Housing and Development, bringing Pioneers Holding’s total ownership to 45.73 percent.

Pioneers has real estate, industrial and financial services operations.