Egyptian ministry prepares for sale off of three firms
Egypt’s Ministry of Public Enterprise (MPE) has issued an invitation for investment banking institutions to assist the imminent sell off of three state owned firms: Seamaf, Niazaa and Dying and Preparation company. Unicorp and the National Bank of Egypt (NBE) have already expressed interest in the idea, reported Al-Alam Al-Yaum.
The MPE is dedicated to achieving the long-term goal of implementing Egypt’s privatization plan, by handing over state-owned companies to the private sector through the sale of company shares on the Stock Exchange and/or to employees, or by means of sales to anchor investors. The privatization program is the cornerstone of Egypt’s economic reform program. — (menareport.com)
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