Cairo – Mubasher: Porto Group said Sunday that Sol Global Holding Ltd appointed Mohamed Sayed M. Abdel Razek as its representative in the group’s board of directors.

Abdel Razek was named deputy chairman and managing director for real estate development.

Amer Group Holding announced last Wednesday that its board has accepted Abdel Razek’s resignation.

Amer Group had decided to split into two companies; Porto Holding Group (demerged company) and Amer Group Holding (demerging company).

Amer Group Holding posted a decline of 33.89% to EGP 111.38 million in net profits for the first nine months of 2015, compared with EGP 168.48 million for the same period of the previous year.