OIH Press Release

Orascom Investment Holding S.A.E

02 October 2023

 

Orascom Investment Holding announces the completion of the sale transaction of its subsidiaries in Brazil

Cairo, October 1^st, 2023:  Orascom Investment Holding S.A.E ("OIH") announced today the completion of the sale transaction of its subsidiaries owning the real estate units located in Patio Victor Malzoni building in São Paulo In Brazil, for a total consideration of 90 million Brazilian real (approximately 17.88 million US dollars).

It is worth noting that OIH intends to direct the proceeds of the sale to finance the company's new investments in the touristic destination development and renewable energy projects.

- END -

About Orascom Investment Holding (Orascom Investment)

Orascom Investment Holding (OIH) has been operating as a holding company with investments mainly in the telecom, media, and technology fields since its establishment in 2011. Tracing its roots back to Orascom Telecom, founded in 1997, OIH maintains the legacy of the region's most successful, entrepreneurial, and pioneering telecoms operator.

As the industry matured, OIH has adopted a new direction to diversify its portfolio from a solely telecom and technology-based firm to an Investment Holding company operating in sectors where it sees opportunities for high growth, transformation, and community impact. Along with promising financial returns, OIH targets projects and sectors that have a significant impact on the development of the countries it invests in.

Wherever we invest, we will always aspire to transform lives to make a lasting contribution to sustainable economic development.

 

 

END