Raysut Cement earns 1.11 million riyals from selling its investment in PortugalVisits : 248

Raysut Cement earns 1.11 million riyals from selling its investment in Portugal

Risalat Cement Company (RCCI), listed on the Muscat bourse, sold its stake in Oman Portuguese Cement Company to Opal Development Company for 5.5 million riyals, according to a statement by the company.

The company said in its statement to the bourse today that it has achieved a profit of the sale of the group more than 1.11 million riyals, and will be included in the calculation of the third quarter of fiscal year 2017.
The shareholders of the company agreed on July 26 to sell their stake in Omani Portuguese Cement Products Company, after receiving a bid in mid-May to sell its stake in Omani Portuguese, a subsidiary of the company, by 50%.

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