Egypt to sell stake in Suez Steel

The Egyptian government announced that it will sell 82.13 percent stake in state-owned Suez Steel. The majority shareholder Banque du Caire has invited interested parties to submit an “Expression of Interest” letter by June 27. The financial advisor to the government on this transaction is HC Investment Banking. Suez Steel is one of the major billet producers in Egypt with an annual production of 600,000 mts.