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...