Raya Holding for Financial Investments said that it had received a non-binding purchase offer from the British Logistics Company Limited (LCL), for a share of 31% of Ostool Transportation Company. This would be in addition to the 62.3% stake LCL already has in Ostool. Raya added in a statement to the Egyptian Exchange that the company offered to acquire the 31% for EGP 133m and the board of directors of Raya Holding Group is scheduled to hold a meeting to discuss the offer submitted by the British company. Raya Holding is an investment group that manages a diverse investment portfolio and is headquartered in Cairo. It continues to achieve widespread reach to provide comprehensive coverage of its operations on all continents around the world. Raya Holding operates in the fields of information technology, outsourcing, data centres, communications centres, smart buildings, consumer electronics, food and beverages, road transport, plastic recycling, and electronic payment methods as the parent company of eleven companies engaged in various types of activities, achieving remarkable success. The shares of Raya Holding have been listed on the Egyptian Exchange since 2005. The company employs more than 11,000 employees who meet the needs of a broad base of customers worldwide from the company's branches in Egypt, the Kingdom of Saudi Arabia, the United Arab Emirates, Qatar, Poland, Nigeria, and Tanzania.
