Titan Cement acquires indirect majority ownership of Alexandria Portland Cement

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Egypt: Greek-owned Titan Cement has made a major acquisition in buying the International Finance Corporation (IFC)’s 17.3% stake in Alexandria Development Ltd. Alexandria Development Ltd is 82.7% indirectly held by Titan Cement. It is the 88.9% owner of Alexandria Portland Cement, according to Mubasher. Alexandria Portland Cement made losses of US$4.56m in the nine months to 30 September 2019.

Last modified on 27 November 2019

URL: https://globalcement.com/news/item/10134-titan-cement-acquires-indirect-majority-ownership-of-alexandria-portland-cement

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