Mohe-deen: 45 companies to be offered for private sector this year
Egypt, Economics, 11/4/2005

Egypt's Minister of Investment, Mahmoud Mohe-deen, said that all companies of the general public sector will be offered for sale, whether winner or looser.

He added that there are 170 companies from which about 45 companies will be offered for sale and 47 companies with joint capital in the share of the general fund will be offered before end of the year.

The minister made it clear that rules of the sale are including the ability of keeping and managing the general fund and rights of workers.

He added that the total capital of companies offering for sale reaches L.E. 9861 million, the equity reaches L.E. 15125 million, the net profit reaches L.E. 2166.7 million, the share of general fund in the capital reaches L.E. 4457.4 million, the share of the general fund in the equity reaches L.E. 6349.9 million and the share of the general fund of profits reaches L.E. 918.6 million.

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