Orascom Development Egypt
ORHD
-6.53%
11.03
-0.77
ORHD
Cairo - Mubasher: Orascom Hotels and Development Co. said it didn't reach any agreements with banks to reschedule a EGP 2.8 billion debt.
The company said it is committed to announce any developments regarding its debts rescheduling agreements with banks.
The debts rescheduling agreements come in the framework of the government efforts to reschedule the debts of the tourism sector due to the unstable political and economic conditions.
Orascom Hotels saw net profits of EGP 270 million in the first nine months of 2015.
Source:
Mubasher