Unimix Egypt, REDCON Construction Co. S.A.E, New Smart Industrial and Commercial Investments, Egyptian Real Estate Investment Fund, Odin Capital Group for Financial Investments and ODIN Investments (S.A.E) made a bid to acquire 90% stake in Nasr Company for Civil Works from Madinet Nasr for Housing & Development S.A.E. and others for approximately EGP 140 million.

Unimix Egypt, REDCON Construction Co. S.A.E, New Smart Industrial and Commercial Investments, Egyptian Real Estate Investment Fund, Odin Capital Group for Financial Investments and ODIN Investments (S.A.E) (CASE:ODIN) made a bid to acquire 90% stake in Nasr Company for Civil Works (CASE:NCCW) from Madinet Nasr for Housing & Development S.A.E. (CASE:MNHD) and others for approximately EGP 140 million on December 16, 2020. Under the terms of transactions, offer included 13.17 million shares or 90% of the capital of Nasr Company for Civil Works at a value of EGP 11 per share.

The Egyptian Financial Regulatory Authority approved the transaction. As of December 20, 2020 Madinet has rejected the offer considering the offer to be inadequate.