An Egyptian court has ordered the cancellation of Assiut Cement s privatisation contract and the firm returned to state ownership, Ahram has reported. The cement maker has been 95.8% owned by CEMEX, a global building materials firm, since its privatisation in 1999. The Primary Court in the Upper Egyptian city of Assiut also ruled that CEMEX is responsible for covering all the financial obligations and dues it incurred from 1999 until 2012. Source: uaecement
Source:
http://www.uaecement.com/newsDetail.aspx?id=652
