VOL. XLIII

No. 11

13-March-2000

EGYPT

Penrod Investments Secures 91% Stake In Egypts 'Amiriya

According to Egyptian investment bank EFG Hermes, the Egyptian Capital Market Authority (CMA) announced on 6 March the closing date for counter bids that 18,272,217 'Amiriya Cement Company shares have been offered to Penrod Investments Limited. Penrod has committed to buy the offered shares at E91 per share, at which price 'Amiriyas value per ton of capacity is $177, and the transaction will take place...