Raya Holding, based in Egypt, has announced the successful acquisition of a 26.69 percent stake in Ostool Company for Land Transport. The acquisition marks a strategic move for Raya Holding, with plans to own a significant 90 percent of the company upon the completion of share transfers and the full payment of the transaction’s value.
Ostool Company for Land Transport is currently under the ownership of Egyptian Gulf Holding for Financial Investment. The ongoing process of transferring shares is in progress, and efforts are being made to secure necessary approvals for the successful execution phase completion. The filing noted that Raya Holding is on track to become the majority owner of 90% of Ostool’s capital following the successful closure of the acquisition.
