Egypt’s Raya Holding approves subsidiary’s proposal to acquire two companies

Egypt’s Raya Holding approves subsidiary’s proposal to acquire two companies

Egypt's Raya Holding approves subsidiary's proposal to acquire two companies The proposal includes the acquisition of 100% or 936,800 shares of Itsalat International Company and 100% of United Retail Company,    Cairo - The board of directors of Raya Holding for Financial Investments has initially approved a proposal by Raya Distribution to acquire majority stakes in two companies.The proposal includes the acquisition of 100% or 936,800 shares of Itsalat International Company and 100% of United Retail Company, Raya Holding said in a bourse disclosure on Thursday.Raya Electronics Co will be used to meet the legal requirements in accordance with the Corporate Law.The move is part of Raya Distribution's plan to expand inside and outside Egypt, widen its customer base, and increase the number of branches and selling points.has initially approved a proposal by Raya Distribution to acquire majority stakes in two companies.Cairo - The board of directors of Raya Holding for Financial InvestmentsRaya Electronics Co will be used to meet the legal requirements in accordance with the Corporate Law.The proposal includes the acquisition of 100% or 936,800 shares of Itsalat International Company and 100% of United Retail Company, Raya Holding said in a bourse disclosure on Thursday.The move is part