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Assiut Cement to appeal court ruling nullify Cemex stake in Egypt
- Egypt: Wednesday, September 19 - 2012 at 10:27
Cemex has announced its Egyptian unit Assiut Cement Co has learned of a preliminary ruling by a court in Egypt that could invalidate the pact under which Cemex bought a majority stake in the company more than a decade ago. Assiut Cement, which is fighting the decision, will continue to operate as usual, the firm said. Mexico-based Cemex bought its stake in Assiut from Metallurgical Industries Co, a state-run Egyptian firm, in 1999.
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