Egypt privatizes 13 companies in 2001
Some 13 Egyptian companies were privatized over the course of 2001 bringing privatization proceeds to 1.1 billion Egyptian pounds ($239 million) for the year, reported Al-Wafd.
Out of the 13 firms four were to sold to anchor investors and two were bought out by the Employee Shareholders Association (ESA). Two of the companies were liquidated, the assets of three companies were sold off and two companies were privatized under the lease financing system.
Egypt’s National Company for Construction and Development (NCCD) has lined up 20 of its affiliated firms for privatization in 2002. The companies chosen realized revenues of 3.4 billion Egyptian Pounds ($734 million) with equity of EP 317.7 pounds in 2001. — (menareport.com)
© 2002 Mena Report (www.menareport.com)