ODH to complete exit of Tamweel in 1Q2018

Orascom Development Holdings (ODH) plans to complete the sale of its 87% stake in Tamweel Financial Holding in 1Q2018, the company’s IR Director Sara El Gawahergy tells Al Borsa. ODH plans to use the proceeds of the sale to help lighten its EGP 1 bn debt burden. No word yet on which of the four offers on the table for the acquisition ODH is leaning towards or the details of those offers.