CAIRO, April 24 Pioneers Holding plans
to use a capital increase to help finance the acquisition of a
60 percent stake in real estate investment firm Rooya Group, one
of the firm's senior executives said.
"The deal will be financed in cash and through a capital
increase in Pioneers Holding shares subject to valuation,"
Mohamed Aboulghait, managing director, financial services, told
Reuters in an interview.
He did not specify the size of the capital increase or when
it would be concluded.
(Reporting by Shadia Nasralla and Stephen Kalin; Writing by
Stephen Kalin; Editing by Angus MacSwan)