Three offers refused to buy Egyptian paper company

The holding company for Egyptian chemical industries refused three offers to buy the Ferta company for paper. An official source in the company said the offers were refused because the presented prices are less than the financial evaluation of the holding company.

The sources added that the companies that attempted to buy the company are from Egypt, the United Arab Emirates and France.

The source did not mention the names of these three companies, saying that the holding company discusses several other alternatives to sell the company, which has a capital amounting to 23 million pounds with total payments of 87 million pounds yearly.