Cairo – Mubasher: Orascom Investment Holding (OIH) has completed the sale process of its shares in its subsidiary Trans World Associates (TWA) in Pakistan after fulfilling the precedent conditions.
The sale's net proceeds recorded around $35 million (EGP 550 million), according to a press release on Wednesday.
OIH is currently searching for various opportunities to invest the sale proceeds and raise its profits and the shareholders' value.
It is noteworthy to mention that during the first nine months (9M) of 2021, the company incurred consolidated net losses of EGP 46.07 million, an increase of 157.5% year-on-year (YoY) from EGP 17.89 million, including minority shareholders' rights.
