Cairo – Mubasher: Jaf Investment Company acquired equity ownership in two firms owned by Arabia Investments Holding at an aggregated value of EGP 177 million, according to a bourse filing.

Jaf Investment purchased a 30% shareholding in UE Finance and Rawaj Consumer Finance, each, for EGP 147 million and EGP 30 million, respectively.

The EGX-listed firm highlighted that the transaction was concluded on 25 December 2023.

In the first nine months (9M) of 2023, Arabia Investments Holding registered consolidated net profits after tax valued at EGP 28.44 million, an annual drop from EGP 47.01 million, including minority interest.

Revenues hiked to EGP 939.33 million as of 30 September 2023 from EGP 899.65 million in 9M-22.

Basic earnings per share (EPS) declined to EGP 0.01 during January-September 2023 from EGP 0.03 in the year-ago period.