Saturday 2 August 2014
Omar Effendi

Egypt court voids 2006 sale of Omar Effendi

A court has annulled a 2006 deal to sell Egypt's historic Omar Effendi department store chain to a Saudi investor, the state news agency MENA said on Saturday, after critics long argued it was sold too cheaply. Omar Effendi, a well-kno


Firm buys historic Egypt retail chain for $55m

Egypt's Arabiyya Lel Estithmaraat investment firm said on Sunday it agreed to pay 320 million Egyptian pounds ($55.4 million) for a majority stake in the historic Omar Effendi department store chain. Egypt had sold the chain to Saudi Arabi

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