Steel magnate Ahmed Ezz has reached a EGP 1.7 bn settlement agreement with the government, Prosecutor General Nabil Sadek said in a statement picked up by Ahram Online. Ezz, who was released from prison on EGP 250k bail and placed on a no-fly list in July, will pay EGP 600 mn from assets recovered from abroad. He faces charges of squandering public funds and illegally acquiring his Dekheila steel plant.

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