Egypt: City Lab’s board approves acquisition of Hassab Labs

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This came after the board approved Hassab Labs’ fair value of $6.39mln determined by the independent financial advisor Riqueza Financial Consultany

Staff Writer, Arab Finance

September 25, 2024

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Egypt - City Lab’s board has approved the acquisition of Hassab Labs for EGP 298 million, as per a disclosure.

This came after the board approved Hassab Labs’ fair value of EGP 311.26 million determined by the independent financial advisor Riqueza Financial Consultany.

On September 23rd, City Lab announced its plan to fully acquire five Egypt-based labs, including Hassab Labs, for a total of EGP 1.051 billion.

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