Orascom Investment Holding announces the completion of the
sale of parquet floors belonging to its subsidiaries In Brazil
Cairo, October 10e, 2021: Orascom Investment Holding SAE (“OIH”) today announced the satisfaction of the conditions precedent relating to the sale of the floors held by its
subsidiaries in the building “Patio Victor Malzoni Condominium” which is located in the state of
Sao Paulo, Brazil, and therefore the completion of the corresponding sales process. It should be noted that the proceeds from the above-mentioned sale amount to approx. US $ 77.6 million and equivalent to approx. 1.211 billion Egyptian pounds.
The management of OIH is currently exploring different opportunities, which are in line with the investment strategy of OIH, to invest the proceeds of the sale and maximize the profits of the company and increase the value for the shareholders. The IOH will announce the details of these investment opportunities once the necessary studies have been completed and the relevant investment decisions made.
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About Orascom Investment Holding (Orascom Investment)
Orascom Investment Holding operates as a holding company with investments mainly in the telecommunications, media and technology and cable sectors since its creation in 2011. Born from the split of assets between OTMTI and VEON (formerly Vimpelcom), Orascom Investment owns the legacy of the most successful telecom operator in the region. As the industry matured, Orascom Investment recently took a new direction to diversify its portfolio from a company based solely on telecommunications and technology to an investment holding company.
Orascom Investment Holding invests in key sectors for the future and is currently exploring opportunities in Egypt, Africa and the Middle East.
Wherever we invest, we always aspire to transform lives to make a lasting contribution to sustainable economic development..
For more information:
Media Relations, Orascom Investment Holding
Nile City Towers, South Tower, 29th Floor
2005A Corniche El Nile, Ramlet Beaulac, 11221 Cairo, Egypt E-mail: investor [email protected]