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Monday, 6 July 2020

Naguib Sawiris expects to close talks with Egypt’s gov’t on Shalateen stake purchase within weeks

M&A WATCH- Naguib expects to close talks on Shalateen stake purchase within weeks: Naguib Sawiris is still in talks with the government to buy a 51% stake in state-owned Shalateen Mining and expects negotiations to wrap in the coming weeks, he tells Hapi Journal. He did not provide any details on the expected value of the transaction. Sawiris, the chairman of La Mancha Mining, has been zeroing in on the mining industry lately, expressing interest in the government’s gold exploration tender in the Eastern Desert and acquiring Shalateen earlier this year.

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