In a press statement on Monday, ODE said that it intends to use the proceeds to refinance its outstanding balances of debt to relieve the company from upcoming debt commitments, worth up to $215m.
Latest in Tag: ODE Highlight
Latest in Tag: ODE
Company’s sees decreased gross profit due to pandemic affecting business operations since late February
The land plot will encompass different types of services to serve residences and guests, making it an integral part of the overall development that boasts a beachfront residence in El Gouna.
El Hamamsy joins ODE from McKinsey & Company, where he is Senior Partner at their Middle East office, having previously been at the company’s Belgium office. In his 18 years at McKinsey, he has led many practices, including Travel and Transport.
NIS Schools will apply blended learning system featuring online, traditional face-to-face learning
Group generated more savings in finance costs in 1Q 2020, with interest costs decreasing 33.1% to EGP 79.6m
We expect demand in second homes segment to suffer most due to global health pandemic, says Elsaadany
ODE said the gradual reopening plans will ensure all hotels in El Gouna will be open for business by 21 May, with its Taba Heights Hotels to also reopen on 21 May.
Company achieves EGP 6.9bn net sales
“ODE will continue to execute its plans and will continue to deliver more value to all our shareholders,” added Zaghloul.
Dividends distribution not expected in 2019, but could be possible in 2020
According to the statement, the sale will result in cash proceeds of $2m which will be directed to finance the group’s expansion plans.