Selling Egyptian government's share in three banks, 12 companies

The Egyptian committee for following up on the privatization process under the chairmanship of Prime Minister Kamal El-Ganzouri decided to sell the Egyptian government's share in three banks and 12 joint companies to a main investor.

The banks are Egypt - American, Egypt - Iran and the International Islamic Bank for Investment and Development, while the companies are Alexandria for Coal, Egypt for Coal, the Egyptian for Valves, El-Mohandes for Paints, Port Said for Construction, the Egyptian Agricultural for Producing Fertilizers, the Arab Contractors for Running and Maintaining Utilities, the Arab International for Insurance, the Egyptian - French for Clothes, the Egyptian - Kuwaiti for Investment and El-Mohandis El-Wantania for Computers.

The committee also agreed on raising a 20% share of tje Cairo Company for Electricity Distribution in the Egyptian stock market.