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Country-Plan Projects and Tenders |
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8744 Subject |
3.66 مليار جنيه حجم الاستثمارات الايطالية في سوق الاسمنت وخطة لشراء شركة اسيك للاسمنت L.E. 3.66 billion deal seems in the pipeline concerning Italcementi Group intending to buy out 100 % of Asec Cement Co. at a price ranging L.E. 30.5 to L.E. 31 per share. |
| Date Published | Monday, June 20, 2005 |
| Source Name | Al Alam Al Yom |
| Location Name | Country Wide |
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Description Date Format: (mm/dd/yyyy) |
Media reports have quoted sources close to the deal to sell Asec Cement Co. in favour of Italcementi Co. indicating that the expected sales price ranges L.E. 30.5 to L.E. 31 million per share, driving the deal to reach L.E. 3.66 billion. Other stocks & securities brokers predicted the price would range L.E. 29.2 to L.E. 31.75 per share. The deal, if concluded, would increase the share of Italcementi in Egypt cement market to 30 % & of foreign companies share in Egypt cement market to 68 %. Meanwhile media reports have revealed that Egypt cement production during the first four months of 2005 reached 10 million tons of which 1.3 million tons were exported with the remaining 8.7 million tons allocated for local consumption. |
| Sectors Section |
Beneficiary Sectors - Industry Cement |
