ASEC to purchase government stakes in Helwan Cement
The Egyptian privatization ministerial committee, chaired by Prime Minister Atif Ubaid, recently accepted an offer for the purchase the government’s stakes in the Helwan Cement Company, according to Al-Ahram.
The proposal was issued by the Arabian Swiss Engineering Cement Company (ASEC) and was accepted by a majority vote. The Minister of The Public Business Sector Mukhtar Khattab, revealed that ASEC’s will buy 12 million shares in Helwan Cement, equivalent to 47.8 percent of the company’s total stocks. — (Mena Report)
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