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Orascom Gets Approval for Demerger Meeting; Plans to Expand Fertilizer Business
3:30 AM MDT | April 30, 2012 | Natasha Alperowicz
Orascom Construction Industries (Cairo) said today that it has been given approval by the Egyptian Financial Supervisory Authority (EFSA; Cairo) to call for an extraordinary general meeting (EGM) to approve a previously announced demerger of the company’s construction business from its fertilizer activities. The EGM will be held on May 17, 2012. The board of Orascom says it believes the demerger will effectively position each business to capitalize on its growth opportunities and to create value for shareholders. The fertilizer business will...
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