The egyptian company for construction development (CASE:EDBM) agreed to acquire 100% stake in Al Wafaa for Touristic Investment from AL FURSAN Group on April 26, 2019. As on June 4 2020, The egyptian company for construction development calls for the board of director's meeting, to be held on June 6, 2020, for the approval of acquisition of 85.26% stake in Al Wafaa for Touristic Investment from AL FURSAN Group for EGP 94.6 million. As per terms, The egyptian company for construction development will acquire 0.26 million shares at EGP 370 per share.The deal will be financed from Alfursan Group's credit balance. The deal is subject to the extraordinary general assembly's approval. The egyptian company for construction development's board approved this transaction.