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| 7591 Subject |
543 مليون دولار قيمة اسهم شركة اسمنت السويس المطلوبة للشراء لشركة اسمنت فرنسا Ciments Francais [ Cement France ] has extended validity of its earlier placed offer, to buy out 65.92 % of the capital shares of Suez Cement Group Co. SAE to now become 12/30/2004 with no change in the offered price. |
| Date Published | Thursday, December 16, 2004 |
| Source Name | Al-Akhbar |
| Location Name | Country Wide |
| Description | Ciments Francais [ Cement France ] has extended validity of its earlier placed offer to buy out 65.92 % of the capital shares of Suez Cement Group Co. SAE to now become 12/30/2004, instead of 12/16/2004, with no change in the offered price. Deal, executed under advise from EFG – Hermes, involves acquiring 42,191,139 shares of the company at $ 12.87 per share, worth $ 543 million [about L.E. 3,377 million]. Offer was earlier submitted by the French company, affiliated to Italcementi Group, of Italy, in cooperation with Mr. Hesham Ibn Hilal Ibn Sadek Al Soweidi, of Saudi Arabia, among other Egyptian, Arab & foreign investors, to add to Ciments Francais present share in Suez Cement now put at 34.1 %. Development confirms world business interest in the future potential of Egypt cement industry. |
| Sectors Section |
Beneficiary Sectors - Industry Cement |
