Cairo – Mubasher: Al Ahly for Development and Investment on Monday announced that it will start negotiations to acquire Sigma Capital for financial investments, according to a bourse filing.
The acquisition will take place through a share swap in the capital of Al Ahly.
The company noted that a memorandum of understanding (MoU) is scheduled, and that a due diligence examination and fair value study of the period before 30 September are being prepared, according to the statement.
Al Ahly for Development and Investment had previously posted a EGP 1.9 million net profit during the three months ended in March 2017, compared to EGP 5.3 million in the same period in 2016.
