22/11/2010
CLOSING OF MINORITY STAKE SALE IN EGYPT
Titan Group announces the completion of the € 80 m equity investment of “International Finance Corporation (IFC)” in “Alexandria Portland Cement Company S.A. E. (APCC)” through the purchase of a stake in Titan’s holding company “Alexandria Development Limited (ADL)”. The transaction resulted in IFC holding through ADL a 15.2% minority stake in APCC and subsequently in Titan’s Egyptian operations.
The collaboration with an institution like the IFC is expected to add significant value to Titan’s investment in Egypt.