Metallurgical Industries Holding sells stake in Egyptian Tourah Portland Cement

Written by Global Cement staff 01 December 2020

Egypt: Metallurgical Industries Holding has sold its 18% stake in Egyptian Tourah Portland Cement for just under US$3m. Mubasher has reported that Arab African International Securities (AAIS) acted as broker for the transaction.

In October 2019, the Financial Regulatory Authority (FRA) approved HeidelbergCement subsidiary Suez Cement’s mandatory tender offer (MTO) for 100% acquisition of Egyptian Tourah Portland Cement for around US$33m.

Last modified on 01 December 2020

Published in Global Cement News

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