Cairo –  Ghabbour Auto (GB Auto) has denied entering into any definitive agreements with regards to its 57.26%-owned subsidiary, MNT-Halan.

The statement was made in line with the news reporting that UAE-based Chimera Investments seeks to acquire a stake in Halan, according to a stock exchange statement on Thursday.

GB Auto reiterated it will notify its shareholders and relevant authorities as soon as it enters into any definitive agreements related to any of its units.

During the first six months (6M) of 2022, GB Auto achieved a net profit of EGP 1.09 billion, a year-on-year (YoY) jump of 34.80% when compared to EGP 811.6 million, including minority shareholders’ rights.

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