Arab Finance: New Cairo Advertising has acquired a 9.96% stake in Arab Cotton Ginning Company (ACGC) in a deal worth EGP 163.68 million, as per a disclosure.
New Cairo Advertising purchased 26.4 million shares at an average price of EGP 6.20 per share.
ACGC is an Egypt-based company active in the textiles and clothing industry sector. The company is engaged in cotton ginning, as well as trading of its products domestically and internationally.