Raya Holding Company for Financial Investments (S.A.E) signed an agreement to acquire additional 27.69% stake in Ostool for Land Transport Company from Egyptian Gulf Holding for Financial Investments.

Raya Holding Company for Financial Investments (S.A.E) (CASE:RAYA) signed an agreement to acquire additional 27.69% stake in Ostool for Land Transport Company from Egyptian Gulf Holding for Financial Investments on December 12, 2023. Raya has already obtained the necessary regulatory and administrative approvals. The process of transferring shares is currently in progress, with ongoing efforts to secure the necessary approvals for the execution phase?s completion, after successfully concluding the full payment of the transaction value to sellers.

Raya Holding company will own 90% of Ostool?s capital upon successful closure of the acquisition.