Raysut to hold EGM on Oman Portuguese Cement Products sale

Raysut Cement has invited its shareholders to attend an extraordinary general meeting (EGM) to discuss and approve the sale of Raysut Cement’s entire share in Oman Portuguese Cement to Opal Development Co LLC. The EGM will be held on 25 July, Salalah-based Raysut Cement said in a filing to the Muscat Securities Market on Wednesday.

Raysut is reportedly planning to sell its entire stake in Oman Portuguese Cement Products Co to Opal Development Co LLC, according to the Muscat Daily. Raysut Cement owns a 50 per cent shareholding in Sohar-based Oman Portuguese Cement.