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Egyptian Ghabbour family takes $30m hit on GB Corp stock
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Egyptian Ghabbour family takes $30m hit on GB Corp stock
The Ghabbour family, one of Egypt’s 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 automaker’s shares on the Egyptian Exchange.Ghabbour family loses $30.7 millionThe 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 Dec…
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