Cairo: Four companies compete to buy Asyut Cement

French, German and Mexican international companies in addition to the Egyptian Aceic company are studing the purchase of Asyut Cement company, which was recently floated for sale.

A source in the ministerial committee for privatization said that the four companies are carrying out studies and measures to estimate and evaluate the company's factories, as a preliminary step to presenting the purchase requests before the end of the specified period on May 15.

The source did not disclose the name of the foreign companies.

77% of Asiout cements shares will be floated for sale to one main inventor, specifying 10% for the participating labor union and 13% for general subscription.