Cairo - Mubasher: The board of directors of Remco for Tourism Villages Construction decided to hire Dar El Khebra for Evaluation and Engineering Consulting to assess the value of Empain Tourism Investments Company. 

The company plans to sell its indirect stake in Empain Tourism Investments Company, owned by Remco for Real Estate Construction, according to a bourse disclosure on Thursday. 

Earlier, the company said it will study a letter of intent submitted by a group of Egyptian investors to acquire Remco for Real Estate Construction's entire stake of 99.98% in Empain Tourism Investments Company. 

During the first quarter (Q1) of 2021, Remco for Tourism Villages Construction reported net losses of EGP 463.61 million, up from EGP 132.17 million in Q1-20, including minority shareholders' rights.