The Ghabbour family, one of Egypts wealthiest business families, has watched the value of its controlling stake in GB Corp. slip by more than 30.7 million, after a sharp pullback in the automakers shares on the Egyptian Exchange.
Ghabbour family loses 30.7 million
The family controls 63.4 percent of GB Corp., equivalent to 688.2 million shares. Just weeks ago, that holding was valued at about EGP19.33 billion 406.67 million. As of early December, it had fallen to EGP17.87 billion 314.42 million, erasing EGP1.46 billion 30.7 million.
