Ethydco, SIDPEC among three state-owned companies looking to buy out CCI

M&A WATCH- Ethydco, SIDPEC among three state-owned companies looking to buy out chemicals company CCI: The Egyptian Ethylene and Derivatives Company (Ethydco) is expected to acquire 60% of Solvay Alexandria Sodium Carbonate (CCI) as part of a takeover plan for three state-owned companies to buy 100% of CCI, unnamed government sources said. Sidi Kerir Petrochemicals Company (SIDPEC) has already reached a preliminary agreement to acquire 20% of CCI, which suspended production in 2016 amid high losses caused by a hike in energy prices. It remains unclear which company completes the trio that is buying out CCI.