Business
U.S. tech giant Amazon has exercised its option to acquire a direct equity stake in Valu, one of Egypt’s leading financial technology companies, marking a key milestone in the firm’s growth as it prepares to begin trading on the Egyptian Exchange (EGX). Amazon is set to acquire approximately 3.95 percent of Valu at a price of USD 0.12 (EGP 6.041) per share, under the terms of a 2022 agreement with Valu’s parent company, EFG Holding. The transaction, subject to regulatory…
