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Tuesday, 8 June 2021

Ahmed Ezz takes direct controlling stake in Ezz Steel

Ahmed Ezz now directly owns a controlling stake in Ezz Steel after purchasing a 33.4% stake in the company from El Ezz Group Holding for Industry and Investment, according to an EGX disclosure (pdf). The steel magnate, who owns almost 100% of Ezz Holding, now directly holds a 65.7% stake in Ezz Steel after purchasing almost 182 mn global depository receipts from the affiliated company. This comes less than a month after Ezz purchased a 5.6% stake in Ezz Steel, again from Ezz Holding.

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