Report: Ezz Steel to Acquire Stake in Egyptian Steel
12/13/2021 - According to reports, Ezz Steel is set to acquire Ahmed Abou Hashima’s 18% stake in Egyptian Steel in a EGP 2.5 billion transaction.
Ezz Steel’s board of directors has approved the purchase through its subsidiary Al Ezz Dekheila Steel, reports Enterprise.
Abou Hashima, Egyptian Steel’s founder, chief executive and chairman, will step down from the company.
According to Enterprise, the transaction would allow Ezz to widen its distribution network and influence Egyptian Steel’s product mix.
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