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GB Auto to restructure two subsidiaries

GB Auto to restructure two subsidiaries
Photo Credit: Arabianeye - Reuters
GB Corp
GBCO
-1.32% 26.15 -0.35

Cairo – Mubasher: Egypt’s leading vehicle assembler GB Auto said it is about to conduct ‘non-substantial’ restructuring for two subsidiaries.

The restructuring of RG Investment and JB Capital is aimed to organise and combine the company’s financing arms under a single umbrella, GB Auto added in a bourse filing Sunday.

The car make earlier posted EGP 209.66 million net profit for the first nine months of 2015, up from EGP 207.06 million reported in the prior-year period.