LE 320 Million ($55.4 million)!

The legendary department store chain sold the majority stake to Egypt's Arabiyya Lel Estithmaraat investment firm for a whopping LE 320 Mill - which apparently soared the firm's share by 9.6% after the deal's annoucement.

The rest of the shares are owned by the World Bank and an Egyptian state-owned firm. The store was founded in 1856 under another name (Orosdi Back) and became Omar Effendi in 1920. 

First a revamp of their image and now their selling the majority stake, seems like the classic store is always moving with the times.

Will it change name or image again??