CAIRO: Egypt's Madeline Nasr for Housing and Development (MNHD) has been finalized by the Sixth of October Development and Investment Company (SODIC) , according to a document seen by Reuters on Tuesday.
The document, a letter dated Jan 22 from MNHD to SODIC , listed several reasons for the decision.
SODIC's settlement worth 800 million Egyptian pounds ($ 45 million) paid to Egypt's illicit gains related to a 1,400-acre plot west of Cairo.
Neither SODIC nor MNHD were immediately available for normal working hours. ($ 1 = 17.8600 Egyptian pounds)
(Reporting by Nadine Awadalla, additional reporting by Ehab Farouk and editing by Gareth Jones and Sandra Maler) ((Nadine.Awadalla@thomsonreuters.com))