Expedition Investments acquires 33% of Domty for EGP 511.5 million

Expedition Investments acquires 33% of Domty for EGP 511.5 million

Expedition Investments acquires 33% of Domty in an EGP 511.5 million deal. Domty agreed to sell 93 million of its shares for EGP 5.50 per share. This is up from EGP 5.00 that was proposed at the beginning of the tender offer after Domty’s shares were valued at EGP 6.90.

Expedition Investments is a special purpose investment vehicle that has a consortium of Egyptian and Gulf undisclosed investors.

Mohamed El Damaty, Vice Chairman Of The Board at Domty, stated in an announcement that Domty has no intention to remove its shares from the Egyptian Stock Exchange and will continue embarking on its expansion plans.

Read more: Saudi Arabia’s PIF to acquire 30% of Saudi tourism company Almosafer in a $412 million deal

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