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Article: Metals sell-off continues.(EGYPT)(metallurgical companies stake sale)(Industry overview)(Brief article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- December 22, 2006
CopyrightCOPYRIGHT 2006 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Cairo's liberalisation programme is gathering pace as it continues its strategy of selling off public stakes in industrial metallurgical companies.
The latest to be put up for sale by Egyptian Metallurgical Industries Holding Company (Micor) is a majority stake in Arab Company for Special Steel (Arcosteel). An 83 per cent stake was offered to strategic investors in mid-December. The largest of the public sector shareholders is National Investment Bank, which owns a 19 percent share of the company The remaining 17 per cent in the venture is already held by private investors.
Arcosteel has one steel plant in Sadat City, south of Cairo, which produces ...