As per a filing on the EGX bourse on Monday, Egypt’s military-owned National Service Project Organisation (NSPO) has acquired a 20 percent stake in TAQA Arabia. According to the disclosure seen by Reuters, the shares were purchased for 1.6 billion Egyptian pounds ($51.86 million).
TAQA Arabia made its debut on the Egyptian Exchange (EGX) in early July. However, EFG Hermes, the bank involved in the sale, has chosen not to provide any comments on the matter.
