VOL. XLIV

No. 25

18-June-2001

EGYPT

National Bank of Egypt Buys Merhav Stake In Midor Refinery For $158.4Mn

The National Bank of Egypt (NBE) on 29 May bought 72,000 shares in the Middle East Oil Refinery (Midor) owned by the Israeli company Merhav, ending Israeli participation in the landmark project and opening the way for major Gulf producers to supply the refinery (MEES, 4 June). After conflicting press and wire reports regarding the sale in late May, NBE President Ahmad Dhia el-Din confirmed...