An unknown investor made an offer to acquire Nasr Utilities and Installation Company from Madinet Nasr for Housing & Development S.A.E. (CASE:MNHD) and Nasr Company for Civil Works (CASE:NCCW) for EGP 30 million on August 18, 2020. On November 18, 2020, An unknown investor signed agreement to acquire Nasr Utilities and Installation Company from Madinet Nasr for Housing & Development S.A.E. and Nasr Company for Civil Works for EGP 30 million. The buyers will acquire 0.2 million shares from NCCW and 12.29 million shares from MNHD for EGP 0.4 per share.

The remaining consideration will be for the debts NUI owes to MNHD. MNHD said it will take decision in the deal on August 23, 2020. The transaction is subject to the approval of the Board of Directors of MNHD and NCCW and the shareholder's approval of MNHD.

On August 24, 2020, the Board of Directors of MNHD approved the transaction. As of August 25, 2020, the Board of Directors of NCCW approved the transaction.