Middle East Economic Survey

VOL. LIII

No 46

15-Nov-2010

EGYPT

Dana Gas To Sell Off 30% Of Egyptian Subsidiary

The CEO of Dana Gas has said that the company will seek to sell off as much as 30% of stakes in its Egyptian arm. Ahmad al-Arbid was quoted by Bloomberg as saying that Dana was currently in talks with potential buyers and was in the processing of narrowing bids on the interest. On 10 November, the company posted a net profit of Dh33mn ($8.98mn) in 3Q10, following a loss of Dh79mn...