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Winvest raises shareholding in Seven Sky to 51%

Winvest raises shareholding in Seven Sky to 51%
The board of Winvest Capital for Development and Investment (WCDI) has approved increasing the company’s stake in Seven Sky to 51% from 20% through participating in the subsidiary’s capital increase from EGP 20 million to EGP 55 million, said Islam Reda, Chairman, WCDI.
The top official told Al Mal that Winvest will have a EGP 21 million share in the capital increase, which will change Seven Sky capital structure to 51% for Winvest, 43% for Eng. Sherif Ghaly, and 6% for other investors.
Seven Sky will use the capital increase in building a new plant on a 10,000 sqm land plot in the industrial zone in Borg El Arab for concentrates used in juices with a 6000 tones daily production capacity in light of the company’s increasing demands.