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(2017-06-28) Orascom Hotels changes its name to Orascom Development Egypt
In line with Orascom Development Holding's (The Group) new strategy towards rebranding and clearer positioning of its subsidiaries around the world, in addition to shifting towards a destination-based structure; the management proposed to change the name of Orascom Hotels and Development (OHD) (ORHD) ; the largest Egyptian subsidiary of the Group to Orascom Development Egypt (ODE) during the company's EGM that was held yesterday, 21 June 2017.
The majority shareholders of the company approved the proposal that was put forward, and the EGM resolutions were then sent to the EGX.
The company is now working on preparing the necessary documentations and fillings for the regulatory authorities to officially change the name of the company to Orascom Development Egypt (ODE).