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Monday, 17 September 2018

Matouk Bassiouny chosen as legal counsel in Eastern sale

**#5 EXCLUSIVE- Matouk Bassiouny wins mandate on Eastern sale: Law firm Matouk Bassiouny has been chosen to act as legal counsel on the 4.5% stake sale of Eastern Company, a Finance Ministry source told Enterprise. The news has yet to be made official. EFG Hermes was tapped earlier this month as banker for the transaction, which will pilot the privatization program. A final date has yet to be set for the sale, which is widely expected to be executed in October.

Abu Qir to be the third company in the program: Abu Qir Fertilizers will be the third company state-owned company to stake on the EGX after Eastern Company and the Alexandria Mineral Oils Company (AMOC), the source added. Abu Qir will sell shares in November. Investment banks are now bidding for the mandate.

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