Orascom Construction attracts $2bn in funding
- Egypt: Saturday, January 19 - 2013 at 01:50
A group of US investors led by Bill Gates has committed $1bn for a stake in Egyptian construction and fertiliser company Orascom Construction Industries (OCI), in one of the country's largest foreign currency inflows since the 2011, Bloomberg has reported. OCI will absorb all local stock and global depositary receipts of Orascom Construction Industries under a share exchange offer that has attracted more than $2bn in commitments, said the company, which is relocating from Cairo to Amsterdam. Its shares will be traded in both locations.
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