Porto Group is setting up a still-unnamed business development entity with Prime Group and UAE-based seafood provider Asmak after Porto’s board approved the partnership agreement on Thursday, the company said in an EGX filing (pdf). The new JV’s activities will include development and management of projects in various fields including real estate, Porto’s Investor Relations Director Ahmed Khalil told us. More details about the company, including its name, capital and shareholding structure will be announced within three months.

Other things we’re keeping an eye on this morning:

Tags: