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B Investments to sell 20% of its stake in Total Egypt for EGP 146.6m - Daily News Egypt

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B Investments to sell 20% of its stake in Total Egypt for EGP 146.6m

B Investments Holding has signed a contract to sell 20% of its stake in Total Egypt to Total France, for  EGP 146.4m.


B Investments Holding has signed a contract to sell 20% of its stake in Total Egypt to Total France, for  EGP 146.4m.

In a statement to the Egyptian Exchange (EGX) on Sunday, the company said that, after the deal’s completion, its stake in Total Egypt will decrease from 7.98% to 6.38%.

During the first nine months (9M) of 2020, B Investments Holding achieved profits of EGP 153.55m, compared to EGP 142.74m in the comparative period of 2019, taking into account minority rights.

The company’s revenues rose during 9M 2020 to EGP 38.07m, compared to EGP 27.69m in the comparative period last year.

On a quarterly basis, the company achieved profits of EGP 30.9m during the third quarter (Q3) of this year, compared to EGP 37.4m in the comparative quarter of last year.

At the level of standalone businesses, the company achieved profits of EGP 106.35m during 9M 2020, compared to EGP 63.5m in the comparative period of 2019.

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https://dailyfeed.dailynewsegypt.com/2020/12/27/b-investments-to-sell-20-of-its-stake-in-total-egypt-for-egp-146-6m/
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