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Regions :: Africa :: Egypt

Orascom to Demerge its Construction Business from its Fertilizer Business

12:11 AM MST | December 22, 2011 | Deepti Ramesh

Orascom Construction Industries (OCI; Cairo) says its board of directors has decided to demerge the company’s construction business from its fertilizer business. OCI will file an application with the Egyptian Financial Supervisory Authority in order to formally begin the demerger procedures. The demerger will result in OCI continuing to hold the fertilizer business and the demerged company will hold the construction business. When the demerger becoming effective, OCI will continue to be listed on the Egyptian Stock Exchange (EGX), and the demerged company...

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