Raya Holding announced acquiring 100% of the shares of the International Union for Integrated Food Industries (Lazah) through the Egyptian Exchange (EGX). The company said in a statement that the number of shares amounted to 5 million shares, valued at EGP 66.85m. Raya Holding will also be committed to paying all of Lazah’s dues, which shall not exceed EGP 13m. Raya Holding’s subsidiary, Raya Contact Center, had presented a prospectus to put up 48.99% of its shares on the EGX with a maximum of 48.99 million shares. Raya Holding owns 11 subsidiaries: Raya Contact Center, Raya Data Center, Raya Information Technology, Raya International Services, Raya Smart Buildings, Raya Social Media, Raya Trade, Raya Venture Investment, Raya Restaurant, Bariq, and Ostool.

Source: Daily News Egypt April 02, 2017 14:03 UTC