ArabFinance: Amer Group (AMER) is still in the preliminary phase of determining a land area in Sohag, according to Amer Group's August 25th statement filed to the Egyptian Exchange.

This came in response to the news titling "Amer Group disregards the establishment of an urban project in New Sohag" published in al Mal News website.

In last December, the company said the final price of the land has not been determined yet, noting it has been preparing the feasibility and marketing studies.

Amer Group teamed up with Sarwa Promotion and Masr Capital to prepare a preliminary study in order to issue sukuk in favor of the latter.

Under the agreement signed between the three parties, Sarwa and Masr Capital will act as lead managers for the sukuk issuance.

Amer Group is an Egypt-based company engaged in the diversified industry sectors. The group's operations are structured into many segments, namely real estate, restaurant, hotel, malls, retail, among others. Other activities include the provision of touristic boats, investment and marketing, and real estate maintenance services.

 

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.