Cairo – Mubasher: Mena For Touristic And Real Estate Investment Company (MENA) on Wednesday said that it has received an offer to sell its 99.98% stake in Mena Touristic Resorts (MTR) for EGP 225 million.

The Egypt-based company is considering the offer, according to a filing to the Egyptian Exchange (EGX).

The EGX-listed firm noted that it would apply Article 44 of the company’s registration rules in case of accepting the offer. 

MENA’s profits declined 34.3% year-on-year to EGP 10.3 million during the first nine months of 2017.