Cairo – Mubasher: Palm Hills Developments has acquired a 7.97% stake in the International Company for Leasing (Incolease) in exchange for EGP 65.35 million.

Palm Hills has acquired 1.59 million shares in Incolease at a price of EGP 41 per share, according to a bourse filing on Tuesday.

It is noteworthy to mention that in 2021, the consolidated net profits of Palm Hills increased by 14.26% to EGP 856.06 million, compared to EGP 749.17 million in 2020, including minority shareholders' rights.