Cairo – Mubasher: Acrow Misr for Scaffolding and Formwork approving purchasing a number of shares in two companies, a Monday’s bourse statement revealed.

Acrow’s board of directors gave the green light to buying a 70% stake in Egypt’s Acrow Ltd, which operates with OMR 250,000 (EGP 11.8 million).

The board also approved buying a 24% stake in Oman-based Sun Infinite for Energy, which is capitalized at OMR 250,000 (EGP 11.8 million), the statement indicated.

The company’s consolidated profits for the third quarter declined 62.5% to EGP 13.6 million.