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OCI announces approved demerger plan
- Egypt: Tuesday, September 11 - 2012 at 12:26
Orascom Construction (OCI) has announced the Egyptian investment authority (GAFI) has approved the method OCI plans to use to value its business lines before splitting them into two companies, Reuters has reported. The company would now file documents to the Egyptian Financial Services Authority to issue shares in its fertiliser arm, the business being separated from its construction activities. "The remaining regulatory requirements to complete the demerger are procedural in nature and are expected to be complete during the fourth quarter," the developer said.
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