Middle East Economic Survey


No 46



NBE Seeks To Sell Its 38% Midor Refinery Stake; Four State Firms For Privatization

The National Bank of Egypt (NBE) is seeking to sell, through the stock market or to a capital investor, its 38% stake in the Middle East Oil Refinery (Midor). NBE acquired the 38% stake when it bought the 18% stakeholding of Midors founder Husain Salim in 1998 and the 20% held by the Israeli company Merhav in 2001 (MEES, 18 June 2001). In 2003,...