Orascom Construction Industries (OCI) announced, in a bourse statement on Tuesday that OCI MENA B.V. has bought 23.42% in the company.

According to the company, a total of 48.9 million shares were purchased at EGP 255 each, totaling EGP 12.5 billion.

OCI MENA has obtained the approval of Egypt’s market regulator EFSA on acquiring a 23.4% stake in OCI.

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