egypt gas company -sae (CASE:EGAS) agreed to acquire an additional 11% stake in Town Gas from Egyptian Natural Gas Co. for EGP 16.2 million on December 31, 2017. The value of the transaction will be deducted from egypt gas company's stake of Town Gas's dividends. Post acquisition, egypt gas company -sae will own 41% stake in Town Gas. The Board of Directors of egypt gas company -sae approved the transaction on December 31, 2017. egypt gas company -sae (CASE:EGAS) cancelled the acquisition of an additional 11% stake in Town Gas from Egyptian Natural Gas Co. on December 31, 2018.