Arab investors compete for three Egyptian tourism companies
Egypt, Business, 4/29/1999
The Egyptian government is planning to sell three large tourism companies affiliated to the Egyptian public works sector. The companies own more than 18 hotels and tourism resorts, including one sale that would be valued at nearly 7 billion pounds.
Sources in the Egyptian Ministry of Works said that these companies include Igoth, and Egypt's major hotels.
The sources expected that Arab and foreign investment groups will compete to buy these companies, but the same sources expected the companies to be sold to major investors from Arab businessmen concerned with buying Egyptian tourism establishments.
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