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Wednesday, 22 July 2020

Restructuring plans for Egypt’s Holding Co for Maritime to be complete this year

PRIVATIZATION WATCH- Restructuring plans for Holding Co for Maritime to be complete this year: A consortium of consulting firms tapped to evaluate the Holding Company for Maritime and Land Transport is expected to complete a restructuring and development plan for the company and its subsidiaries by the end of 2020, a consultant on the strategy tells Al Mal. The consortium comprises US-based Brisk, France’s EFESO, and Egypt’s Eissa Law Firm. The holding company had begun talks with international firms last year for the planned restructuring, which is now expected to cover 11 of its subsidiaries. The restructuring plans come as the Public Enterprises Ministry has been pushing a privatization drive for several months, which could see private investors snap up management rights for three state-owned bus companies.

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