Establishing a Dutch - Egyptian - UK - US company with a capital of 35 million pounds

The formation of a Dutch - Egyptian - UK - US alliance including Misr Bank, Dutch - UK group ING Bearings, and the Concord Company for financial investment was announced in Cairo, Egypt yesterday.

This alliance will start forming a company with a capital of 35 million Egyptian pounds, equally distributed among the partners.

Salah El-Ahmadi, chairman of Misr, said that "the new alliance comprises many different economic experiments in field of financial consultations regarding the merging and privatization operations in addition to a long term finance for working corporations and companies in Egypt."