Suez Cement gets EGP1.2B loan to acquire Asec Cement

A consortium of banks in Egypt led by Commercial International Bank said it provided a loan to Suez Cement Co.  amounting to 1.2bn Egyptian pounds (US$209.2m), the London-based daily Asharq al-Awsat reported. The aim of the loan is to finance Suez Cement’s acquisition of Asec For Cement Co., the consortium said. 

The consortium includes Banque Misr, Bank of Alexandria, Arab African International Bank, Barclays PLC, Societe Generale (13180.FR) and BNP Paribas (13110.FR).