Cairo Investment to buy 60% stake in UAE firm

Cairo – Mubasher: Cairo For Investment and Real Estate Development on Monday announced that its board of directors has approved to purchase 60% of the capital of the UAE-based Star Light Education DMCC.

The board has agreed to buy the stake from WD Capital Limited at a total value of EGP 100 million, Cairo Investment said in a statement to the Egyptian Exchange (EGX).

The company also noted that the independent advisor’s report have set the fair value (FV) of British Columbia Canadian International School (BCCIS) at EGP 194 million or EGP 18.47 per share.

It is worth noting that Cairo Investment’s capital amounts to EGP 233.11 million, distributed over EGP 582.7 million at a nominal value of EGP 0.40.

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