Alexandria Development seeks 100% acquisition of Alexandria Portland Cement

Egypt’s Alexandria Development Ltd (Titan Cement International) has announced its intention to acquire the remaining 11.07 per cent stake in Alexandria Portland Cement. It already owns 88.93 per cent of the company and is expected to offer EGP6/share (US$0.37/share) in cash for the remaining stake.

Once the deal completes, the company would delist Alexandria Portland Cement from the Egyptian Exchange, according to Reuters.