14
Sep
13:30
Beshay sells subsidiary stakes to settle debt: reports
Egypt's Beshay Steel has sold stakes in its subsidiaries to the National Service Projects Organisation (NSPO) to pay off its debt, Kallanish notes.
NSPO has acquired up to 24% stakes each in three companies, Egyptian Sponge Iron and Steel, Egyptian American Steel Rolling Mills and International Steel Rolling Mills, worth EGP 10 billion ($324 million), Bloomberg Asharq reports.
The deals were made through EFG Brokerage.
Established in 1979 with the aim of ach…
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Very good overview of the weekly steel market.
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