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MNHD inks final deal to sell Nasr Utilities and Installations

MNHD inks final deal to sell Nasr Utilities and Installations
MNHD posted net profits of EGP 628.99 million in nine months
Madinet Nasr Housing
MNHD
1.74% 4.09 0.07

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced signing the final agreement to sell its 98.4% stake in its subsidiary Nasr Utilities and Installations (NUI) to a strategic investor for EGP 30 million.

The agreement will be referred to the company’s shareholders next month for approval, the company said in a bourse disclosure on Wednesday.

During the first nine months of 2020, MNHD posted net profits of EGP 628.99 million, slightly down from EGP 630.98 million in the year-ago period.