Qalaa to sell its stake in Zahana to Algeria’s CIGA by 1Q2019

 Qalaa Holdings has signed an MoU to sell its stake in Algerian cement company Zahana to Algeria’s state-owned Groupe Industriel des Ciments (GICA), according to an EGX disclosure (pdf). The transaction should be complete in 1H2019, Qalaa said. Qalaa had announced plans to exit Zahana last September as part of its bid to divest in impaired assets.