SODIC confirms entering into talks with MNHD explore strategic alternatives

11 Apr 2018

In reference to the announcement made by Madinet Nasr Housing & Development “MNHD” on April the 10th 2018, concerning exploring potential strategic alternatives for the two entities by way of merger or acquisition, SODIC announces that such discussions are welcomed by the Company in light of the potential synergies and benefits that could accrue to each party.

It is worth noting that any discussions to be held or due diligence conducted between the two parties at this stage would be non-binding, There can be no assurances that a definitive agreement between the parties will be reached or on what terms. Any final decision regarding the form and timing of any potential transaction would remain subject to approvals by the respective boards, general assemblies and respective regulatory authorities as applicable.


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