Egypt's GB Auto approves issuing $183 mln bonds

Newswire

CAIRO, Jan 28 (Reuters) - Egypt's GB Auto shareholders have approved issuing 5-year bonds worth 1 billion Egyptian pounds ($183 million) to fund new service centres in Egypt and regional expansion. GB Auto, Egypt's biggest listed automobile assembler, had said it aimed to increase its share of Egypt's passenger car market to around 30 percent from 27 percent now. The firm operates six after-sales service centres in Egypt and plans to have 25 by the end of 2012, Investor Relations ...

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