Suez Cement approves Helwan Cement merger, to sell up to 5% of Tourah Cement

The Suez Cement Company gave a preliminary nod yesterday to merging the Helwan Cement Company’s operations into its own, according to an EGX filing (pdf). The company will be working on determining the legal and financial framework and setting a timeline for the transaction before bringing the matter to the general assembly for a vote. The company also plans to sell up to 5% of Tourah Cement. Details on the size of either transaction have not yet emerged.