Source: ORHD disclosure to EGX
Cairo, 9 June 2024 – Concerning the recent reports regarding the insolvency of the German tour operator "FTI Touristik GmbH" (FTI) on June 3, 2024, and the related information about Meeting Point Egypt Company guaranteeing FTI's debts in Egypt. Orascom Development Egypt (ODE) would like to clarify that it does not hold any stakes in either FTI or Meeting Point. ODE management also wants to emphasize that the impact of FTI’s insolvency on the overall business will be assessed in the forthcoming months. However, we do not perceive it as substantial in totality.
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