South Valley Cement share swap rejected, Egypt?

South Valley Cement share swap rejected, Egypt?
Published: 31 August 2010

Shareholders in Golden Pyramids Plaza, owner of the City-Stars mega-mall in 
Cairo, have rejected a share swap with South Valley Cement, putting an end to
their planned merger, Golden Pyramids said on Sunday.


"Most shareholders have no desire to continue the procedures of the acquisition
via a share swap," a company statement to the stock exchange said.


South Valley approved a E£15bn capital increase in May to buy Golden Pyramids
Plaza, in a bid to expand its focus and diversify its operations outside of
cement.