Cairo – Mubasher: The board of directors of Maridive and Oil Services approved a proposal to increase the share capital of its unit Valentine Maritime by $37 million.

Maridive’s board agreed to acquire the remaining minority interest in Valentine, thereby consolidating full ownership of the company, according to a statement to the Egyptian Exchange (EGX) on Thursday.

In October 2019, the board of Maridive decided to increase the company’s issued capital to $188.1 million from $163.84 million.

It is worth mentioning that during the first nine months of 2019, Maridive incurred net losses of $22.22 million, against net profits of $18.28 million in the year-ago period, including minority shareholders’ rights.