South Valley Cement to sell subsidiary to Spanish company for EGP 548M

Updated 8/28/2025 1:35:00 PM
South Valley Cement to sell subsidiary to Spanish company for EGP 548M

Arab Finance: South Valley Cement has agreed to sell its 47.61% subsidiary, Building Materials Industries, to the Spanish company Instituto Tecnológico de Informática (ITI) for EGP 584 million at EGP 2 per share, according to a bourse filing.

The EGX-listed firm owns 292.34 million shares of Building Materials Industries' total capital of 614 million shares.

South Valley Cement adopted a fair value study for its unit’s shares, which concluded that the fair price per share is EGP 1.25, compared to a negative book value of EGP 1.26.

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