VOL. XLII

No. 04

25-January-1999

EGYPT

Egypt Pursues Privatization Despite International MarketTurmoil

The Ministerial Committee for Privatization in Egypt gaveapproval for seven new privatization projects on 14 January, despite continuingturmoil in emerging markets and uncertainty over potential investor appetite in1999. The most significant privatization to be announced is the HoldingCompany痴 sale of its 38.2mn share stake in paints manufacturer PACIN toGriffin Group. The shares will be sold at...