REG - Orascom Investment - OIH Press Release

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02/10/2023 11:30

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RNS Number : 3549O  Orascom Investment Holding S.A.E  02 October 2023

 

Orascom Investment Holding announces the completion of the sale transaction of
its subsidiaries in Brazil

 

 

 

Cairo, October 1(st), 2023:  Orascom Investment Holding S.A.E ("OIH")
announced today the completion of the sale transaction of its subsidiaries
owning the real estate units located in Patio Victor Malzoni building in São
Paulo In Brazil, for a total consideration of 90 million Brazilian real
(approximately 17.88 million US dollars).

It is worth noting that OIH intends to direct the proceeds of the sale to
finance the company's new investments in the touristic destination development
and renewable energy projects.

 

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About Orascom Investment Holding (Orascom Investment)

 

Orascom Investment Holding (OIH) has been operating as a holding company with
investments mainly in the telecom, media, and technology fields since its
establishment in 2011. Tracing its roots back to Orascom Telecom, founded in
1997, OIH maintains the legacy of the region's most successful,
entrepreneurial, and pioneering telecoms operator.

As the industry matured, OIH has adopted a new direction to diversify its
portfolio from a solely telecom and technology-based firm to an Investment
Holding company operating in sectors where it sees opportunities for high
growth, transformation, and community impact. Along with promising financial
returns, OIH targets projects and sectors that have a significant impact on
the development of the countries it invests in.

Wherever we invest, we will always aspire to transform lives to make a lasting
contribution to sustainable economic development.

 

 

 

 

 

 

 

 

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