Arab Finance: The board of directors of GB Auto (AUTO) decided to begin the necessary procedures of partially selling an indirect stake of 45% in GB Lease and Factoring for EGP 855 million, according to a statement filed to the Egyptian Exchange (EGX) on January 2^nd.

Accordingly, GB Auto will hold a 55% indirect stake in GB Lease and Factoring after the completion of the transaction.

The fair value (FV) study on the shares of GB Lease B.V Netherlands, the owner of GB Lease and Factoring with a 75% stake.

GB Auto is an Egypt-based automotive that trades, distributes, and markets all transportation means, including heavy trucks, semi-trucks, passenger cars, buses, agriculture tractors, and pick-ups.

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