SEMADCO on radar of Gulf investors
The Egyptian government is seeking to sell a stake in El-Nasr Fertilizers and Chemical Industries Company (SEMADCO) to a strategic investor from the Gulf and foreign funds interested in acquiring a share from it, sources close to the deal informed Daily News Egypt.
The Holding Company for Chemical Industries owns all the shares of SEMADCO.
The sources added that the Holding company for Chemical Industries is currently evaluating the company and determining the fair value of the share, which is expected to be completed within a month.
The sources stressed that the trend is to sell a share in order to provide dollar liquidity, as well as increase the participation of the private sector in the Egyptian economy, in line with the state’s directives.