VOL. XXXIX
No. 63
9-December-1996
EGYPT
Egyptian State Rejects French Offer To Buy Cement Company
The Metallurgical Industries Company (Micor), the Egyptian public sector holding company of al-Ameriya Cement Company, has refused a bid from French cement group Lafarge Coppee to buy 51% of Ameriya. Micor invited bids from strategic investors for a controlling stake in the Egyptian cement company, which is extremely profitable, earlier this year. Lafarge's bid, which offered a price of E53 per...
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