Cairo-Mubasher: Saudi Egyptian Investment and Finance Co. (SEIGA) said the board of Egyptian Medical Syndicate approved buying its stake in Medical Professions for Veterinary Products and Fodders Additions (Muvco).   

SEIGA will sell its 3.18% stake representing 70,000 shares in Muvco at EGP 20.428 each, the company said in a bourse statement.

The firm decided to sell its stake in Muvco due to its losses over the last years.

SEIGA posted net earnings of EGP 95.7 million for the first nine months of 2015, soaring 251% over EGP 27.2 million in the same period a year ago.