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Tuesday, 2 October 2018

Eastern Tobacco share sale taking place in second half of October

EXCLUSIVE- Eastern Tobacco stake sale set for second half of October: The sale of 4.5% of Eastern Company is definitely on track for October, a senior government source told Enterprise yesterday. While the source declined to reveal the exact date, they noted that it will take place sometime in the second half of the month. The source also denied that the privatization program was being delayed following the emerging markets selloff, saying that the program had garnered interest from foreign investors and that the appetite was strong.

Advisers: EFG Hermes will manage the share sale. The winner of a tender to serve as legal counsel had not been officially revealed, but a source in government with direct knowledge of the process had told us that NI Capital had settled on Matouk Bassiouny.

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