Pioneers Holding Co. (CASE:PIOH) made an offer to acquire an additional 41.56% stake in Giza General - Contracting and Real Estate Investment S.A.E (CASE:GGCC) on May 10, 2020. Transaction will occur via a share swap. In related transactions, Pioneers Holding Co. made offers to acquire an additional 9.42% stake in Cairo for Housing & Development, 50.25% stake in United Co for Housing & Development, 51.14% stake in National Upper Egypt Contracting & Building Works and 19.35% stake in Electro Cable Egypt.

Pioneers Holding Co. (CASE:PIOH) completed the acquisition of additional 41.56% stake in Giza General - Contracting and Real Estate Investment S.A.E (CASE:GGCC) on June 18, 2020. As a result of the transaction, Pioneers holds about 90% stake in Giza General.