Titan to sell 16% of Egyptian unit to World Bank

Titan to sell 16% of Egyptian unit to World Bank
Published: 25 March 2010

Greek cement maker Titan Cement said on Tuesday it had agreed to sell a 16% stake in its Egyptian division to the International Finance Corporation (IFC), the private finance arm of the World Bank, for EUR80m.

The sale, which is seen to boost the investment value of Alexandria Portland Cement Company, is expected to be finalised by the end of June, Titan Cement said.