Ritaj Holding rejects the offer to acquire its subsidiary in Egypt "Delta Pharmaceutical Industries"

تم النشر على almowazi.com في 15 أكتوبر 2023
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Al Imtiaz Investment Group Company, in a supplementary disclosure to Boursa Kuwait, informs about its subsidiary, Al-Ritaj Holding Company's (OTC code 645) decision to decline an offer for the acquisition of its entire stake in one of its subsidiaries, Delta Pharmaceutical Industries Company, located in the Arab Republic of Egypt. The decision was primarily influenced by the current depreciation of the Egyptian pound against major currencies, resulting in a decrease in the value of the offer when converted to Kuwaiti dinars. 
Meanwhile, Al-Ritaj Holding Company remains actively engaged in monitoring the economic indicators in the Arab Republic of Egypt. The objective is to identify suitable opportunities for exiting investments or pursuing alternative strategies for investment in Delta Pharmaceutical Industries.

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