Cairo – Mubasher: Orascom Investment Holding (OIH) has completed the sale of floors owned by its subsidiaries in the Pátio Victor Malzoni building in São Paulo, Brazil, in exchange for $77.6 million (EGP 1.21 billion).
The company is currently considering the use of sale proceeds across investment opportunities to raise its profits, according to a bourse filing on Monday.
It is noteworthy to mention that in the first half (H1) of 2021, the company turned to consolidated net losses of EGP 66.55 million, versus net profits of EGP 1.71 million in H1-20, including minority shareholders' rights.
