Olympic Group is still negotiating with Sweden's Electrolux over a takeover of the Egyptian company and the talks are going well, the chairman of Olympic's parent company said on Wednesday.
"Negotiations are still running and they are going smoothly. We are ready and they are ready," Paradise Capital Chairman Saad el-Din Abdullah Sallam told reporters in Cairo.
Olympic said earlier this month it had agreed to give Electrolux another 15 days to complete due diligence on the deal, valued at 2.7 billion Egyptian pounds (US$453 million) when the two firms reached a tentative agreement last October.
Short link: