25 May 2014       Download

ERC Signs MoU with Orascom as an initial step to develop new revenue streams through the acquisition of select assets from Orascom Hotels and Development (OHD) and other sister companies, preliminarily estimated to be worth EGP 900 mn to EGP 1 bn. Company expects to launch an at‐market capital increase at EGP 1.90 – EGP 2.10 per share to finance the acquisition.