The Board of Directors of Al-Ezz Dekheila Steel Company - Alexandria, held on 12/9/2021, agreed to purchase 18% of the total equity in the Egyptian Steel Company to manage steel mill projects from Ahmed Hamdy Abu Hashima, the founding partner and Abu Hashima Steel Company to manage steel projects.
The total value of the purchase was estimated at about 2.5 billion pounds, to be paid from the company’s resources. The board also approved the study of the independent financial advisor regarding the fair value of the Egyptian Steel Group Company for managing steel mill projects, according to the Egyptian Stock Exchange statement.
About the consolidated and unconsolidated results of its business for the period from 01/01/2021 to 09/30/2021, which showed achieving a consolidated net profit of 3.214 billion pounds, compared to a consolidated net loss of 3.479 billion pounds for the same period of the previous year.