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Article: New foreign investors for Suez Cement.(Brief Article)(Statistical Data Included)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- March 9, 2001
CopyrightCOPYRIGHT 2001 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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A fresh opportunity for foreign strategic investors in the cement sector has opened up following the decision of Egypt's largest producer, Suez Cement Company, to offer a significant stake to an international company, as long as it is not currently active in the local market.
Analysts say the move should have a positive impact on the company's performance and financial position, in particular if the foreign investor is accorded a powerful management role. However, there remain questions about the extent to which the government is willing to cede influence over the sector.
Suez Cement shareholders on 24 February approved plans to issue 10.1 million new ...