Lift Slab Egypt is expected to close EGP 94 mn purchase of Al-Wafaa for Tourism investment soon

M&A WATCH- Lift Slab Egypt is expected to close its acquisition of an 85.2% stake in Al Wafaa for Tourism Investment in the coming weeks, according to an EGX disclosure (pdf). Al Wafaa is a subsidiary of real estate firm Al Fursan Group. The transaction is worth EGP 94.6 mn after Lift Slab agreed to purchase 255.7k shares in the company at EGP 370 apiece. Lift Slab will vote on the acquisition at its next general assembly meeting on 18 July.