Cairo – Mubasher: BPE Holding for Financial Investments on Wednesday has said that Madinet Nasr Housing and Development (MNHD) is contacting Sixth of October for Development and Investment (SODIC) to consider possible opportunities for mutual coordination through merger or acquisition.

MNHD, which holds a 7.5% stake in BPE Holding, has assigned chairman Hazim Barakat to discuss the available means of collaboration, the company highlighted in a filing to the Egyptian Exchange (EGX).

It is worth noting that the board of MNHD has discussed possible coordination with SODIC on Tuesday and has agreed on appointing EFG Hermes and Zaki Hashem and Partners Law Firm as the company’s legal advisors for the deal.