Palm Hills Development (PHDC) announced that its board of directors approved the acquisition of a 29.59% stake in Taaleem Management Services during their session on October 1, 2024. The stake, representing 216,112,769 shares, is owned by Yasseen Mansour, the Chairman and CEO of PHDC, and will be acquired at a cost price of EGP 8.65 per share. The board approved the acquisition after excluding the votes of Mr. Yass Mansour and the related group. The transaction will proceed pending approval from the general assembly.
Source: Company disclosure to EGX
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