Cairo – Mubasher: Alexandria Mineral Oils Co’s (AMOC) board of directors is considering the purchase of a majority stake of the German-based Sasol’s shares in Alexandria Wax Products.
The board will also discuss a proposal by Newsmart for Industrial and Commercial Investments Company to purchase a 10% stake of AMOC’s shares in Alexandria Wax, according to a filing to the Egyptian Exchange (EGX).
In December, AMOC said it was in talks with Germany’s Sasol to buy its stake in Alexandria Wax at a par value of EGP 100 per share.
Accordingly, the state-run oil firm will hold a controlling stake of not less than 51% in Alexandria Wax.
