Raya Holding For Financial Investments conditionally approved a $60 million capital contribution for a potential acquisition in Egypt. The proposed transaction involves purchasing 100% of the equity in a data center facility.
The board authorized subsidiary Raya Information Technology (Raya IT) to subscribe to a capital increase at Raya Data Center. These funds are designated exclusively for the US dollar-denominated equity portion of the purchase.
Subscription payments can be made in one or more installments. Raya Holding may use US dollars, Egyptian pounds, or a combination of both currencies to complete the transaction.