MNHD looks to offload its utilities arm

M&A WATCH- MNHD looks to offload its utilities arm: Madinet Nasr Housing and Development (MNHD) appears to be exploring the possibility of selling its utilities arm El Nasr Utilities and Installations to an as of yet unnamed potential buyer. The company approved allowing the potential buyer to conduct a due diligence on its facilities and equipment arm, as a prelude to the sale, according to a regulatory filing (pdf). The potential buyer had submitted a non-binding purchase offer to buy 100% of El Nasr Utilities.