Egypt s ASEC Cement is in talks with the Algerian government to sell a minority stake in its Algeria-based operations, Ahram has reported. Algeria aims to acquire 49% of ASEC Cement Algeria by increasing the company s paid up capital, which currently sits at $60m. If the deal is completed, ASEC Cement would own 51% of ASEC Algeria, down from the current 72% share. Cairo-based private equity firm, Citadel Capital, has a 48.5% share in ASEC Holding, which in turn owns 61% in ASEC Cement. Citadel directly owns 33.44% of ASEC Cement. Source: uaecement
Source:
http://www.uaecement.com/newsDetail.aspx?id=659
