The International Finance Corporation (IFC) has offloaded its entire 14% stake in National Printing Company in an EGP 175.9 mn transaction, Al Mal reports, citing sources familiar with the matter. The multilateral lender reportedly sold 10% back to the company and the other 4% to majority shareholder and Qalaa Holdings subsidiary Grandview, the people said. The IFC has been a shareholder in the company since 2010 when it invested USD 10 mn to back the construction of a cardboard factory.

Background: National Printing Company was set up by Grandview and Shorouk Group founder Ibrahim El Moallem in 2006. Grandview now owns around 57% of the company following the transaction and the remainder is owned by Moallem, according to the newspaper.

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