Raya increases stake in Ostool Transport and Logistics to 90%

(Cairo – December 2023)

Raya Holding for Financial Investments has announced the signing of an agreement to acquire a 27.69% stake (23.9 million shares) in Ostool Transport and Logistics Company, currently held by Egyptian Gulf Holding for Financial Investments. This acquisition comes after successful negotiations and securing all necessary regulatory and administrative approvals.

A statement released on Wednesday to the EGX detailed that the share ownership transfer procedures are underway, with the completion of the transaction pending the final approvals. The full value of the deal has already been paid to the sellers. Following the completion of this transaction, Raya’s ownership in Ostool Transport’s capital will rise to 90%.

Ostool is renowned for its specialization in supply services, particularly in trucking and logistics, as well as warehousing and the unloading of shipping containers.

The company’s ascent began in 2010 with the management of an extensive fleet of trucks, offering a wide array of services to a diverse clientele across various sectors.

Ostool prides itself on delivering exceptional service, supported by state-of-the-art automated fleet management systems, comprehensive maintenance contracts, and a team of skilled drivers and supervisors, all underpinned by advanced technology to ensure the highest quality of service.