Privatizing 43 Egyptian companies

The Egyptian government decided to expand the base of ownership in 43 new companies affiliated to the public works sector between June and December.

Sources in the Egyptian works sector told ArabicNews.com that the sales will achieve revenues of around 6 billion pounds for Egyptian government and that the companies presented for privatization include the fields of fabrics and textiles, contracting, domestic trade, engineering industries, housing, cinema and tourism.

The selling program dictates the floating up of the shares of most of these companies for major investors with less than 60% ownership, while the rest was floated up in the stock market and ownership union in companies.