VOL. XLIII
No. 31
30-July-2000
EGYPT
Suez Cement Company Sells Stake In ECC
Egypts largest cement company, Suez Cement Company (SCC), has sold its 8% stake in Orascom Construction Industrys cement subsidiary, Egyptian Cement Company (ECC), to the Swiss cement and industrial company Holderbank, which is already a major shareholder in ECC. According to EFG-Hermes on 24 July, the value of the deal is E170mn ($48.74mn), with E150mn ($43.0mn) going to purchase 52,960 shares at E2,850 ($817.1) per...
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