Wadi Degla Clubs raises capital to EGP 400m

Cairo – Mubasher: Wadi Degla Clubs Co has increased its capital by EGP 361 million through profits to EGP 400 million from EGP 39 million.

Investment and international cooperation minister Sahar Nasr met with Wadi Degla Clubs’ founders on Wednesday, the ministry said in a statement. 

The minister also met with the founders of two limited liability companies (LLCs) at a combined capital of EGP 228.5 million.

In April, a consortium of the European Bank for Reconstruction and Development (EBRD) and AfricInvest Group presented an offer to acquire a minority stake in Wadi Degla Clubs for $20 million. 

The deal is expected to be completed by the end of the second quarter of 2018, sources told Almal newspaper.

Mubasher Contribution Time: 29-Aug-2018 12:09 (GMT)
Mubasher Last Update Time: 29-Aug-2018 12:51 (GMT)