Mubasher: Mena Real Estate announced completing the procedures of acquiring Rasmal Holding Co, according to a bourse disclosure on Monday.
Mena Real Estate now owns an equity of 78.3% in Rasmal, following the takeover transaction that included allocating 54.57 million shares of Mena to the shareholders of Rasmal in return for waiving 117.36 million of their shares in Rasmal.
The takeover transaction will result in consolidating Mena Real Estate’s financial statements to be included in the third quarter ending on 31 December 2018.
