Four Egyptian public companies to be sold

Egyptian Minister of Public Enterprises Atef Ebeid announced yesterday in press statement the sale of four companies affiliated to the Holding Company for Cotton and Foreign Trade: Lee Egypt, for the car trade rights distributor of Italian Fiat cars; Misr for the foreign trade; El-Nasr for imports and exports that has the right of distribution in African markets; and El-Arabia for foreign trade. The assests of these four companies are 500 million pounds. Ebeid told ArabicNews.com that the sale of the foreign trade companies will be limited only to Egyptian investors according to the law.