Orascom completes Tamweel Group stake sale

Orascom Development Egypt (ODE) is an integrated developer of resort towns in the Arab nation, has concluded the sale of its 87 percent equity stake in Tamweel Group for $21.4 million to Ebtikar for Financial Investment (Ebtikar) TCV1 and Acquire for Investment. Tamweel Group comprises four companies operating in mortgage finance, factoring, leasing, collection and […]

Orascom Development Egypt sells 2 hotels

Based-Switzerland’s Orascom Development Holding sells in the Royal Azur and Club Azur Hotels. Also, the firm, will sell a land plot in the Makadi area on the Red Sea to Meeting Point International for cash proceeds of EGP 408 million. “The sale was concluded at a higher enterprise value of c. EGP 856 million than the […]