Egyptians for Housing & Development Co. (CASE:EHDR) intends to make an offer to acquire an additional 51% majority stake in Emerald Real Estate Investment (CASE:EMRI) on November 14, 2021. Egyptians for Housing & Development Co.

will acquire the stake through a share swap. Egyptians for Housing and Development Company requested The Financial Regulatory Authority to extend the deadline for submitting a mandatory tender offer (MTO) to purchase an additional 51% stake in Emerald Real Estate Investment by 60 working days. The transaction has been approved by the shareholders of Emerald Real Estate Investment.

The transaction has been approved by the board of Egyptians for Housing & Development Co.