CAIRO: Goldman Sachs bought 5.5 percent of the shares of Palm Hills Developments from its majority shareholder, El Mansour and El Maghraby Investment and Development Company, together with an option to purchase a further 4.5 percent equity stake in the company.
We are proud to welcome Goldman Sachs as a shareholder and look forward to exploring further opportunities to cooperate in the future, stated Yasseen Mansour, chairman of Palm Hills Developments, in a statement to the press.
Goldman Sachs is a global investment banking, securities and investment management firm. It provides a wide range of services to a substantial and diversified client base that includes corporations, institutional investors, governments, non-profit organizations and high-net-worth individuals.
Its headquarters is in New York and it maintains significant offices in London, Frankfurt, Tokyo, Hong Kong and other financial centers around the world.
Founded in 2005 by Mansour and Maghraby Investment and Development, Palm Hills Developments is a real estate developer in the Egyptian market, primarily developing high-end residential real estate and resort projects.
