Ciments Francais says Egypt Cement offer oversubscribed

Ciments Francais says Egypt Cement offer oversubscribed
Published: 16 March 2005

Ciments Francais, the French unit of Italy’s Italcementi SpA, said Tuesday its revised offer, launched in conjunction with a number of other international investors, to buy some 21 million extra shares in Suez Cement was oversubscribed. Ciments Francais will now lift its overall stake in the Egyptian cement supplier to 54.2 per cent, the French company said in a statement.