Private investor ups stake in Arabian Cement

Private investor Sadiq Ahmed Sadiq El Sewedy has increased its share in Egypt-based Arabian Cement Company (ACC) from 9.5 per cent to 11 per cent at a cost of US$1.6m. The deal was handled by Al Ahly Pharos and EFG Hermes Holding.

The opening six months of 2022 saw ACC post revenue of EGP2.129bn (US$111.2m), significantly up from EGP964.9m in the same period a year earlier. Consolidated profit surged from a net loss of EGP23.28m to a profit of EGP119.49m over the same period. .