Wednesday, Aug 30, 2006
CAIRO (Zawya Dow Jones)--Egypt's Amreyah Cement Co. said Wednesday that it is in negotiations to sell its 30% stake in Express Ready Concrete Co.
In a statement posted on the Cairo & Alexandria Stock Exchanges' Web site, the company said it would sell its 45,000 shares in Express Ready Concrete, which has a total of 150,000 shares.
Amreyah Cement didn't give further details about the deal.
Amreyah Cement's first half profit soared more than seven times to 65.5 million Egyptian pounds ($11.4 million), from EGP7.8 million a year earlier.
-By Maha El Dahan, Zawya Dow Jones, +201 2226 7850; mahaeldahan@yahoo.com
(END) Dow Jones Newswires
08-30-06 0402ET
Copyright Zawya Dow Jones Newswires 2006
