Cabinet looks to resolve Simo privatization dispute under dispute resolution committee

The Madbouly Cabinet’s dispute resolution committee began last week looking into the six-year dispute over the unwinding of the privatization of the Middle East Paper Company (Simo), Al Mal reports. Investors, the largest of whom is Al Ahly Financial Investment Management, are looking for EGP 500 mn in damages from a decision to reverse the privatization of Simo in 2013. The committee’s role in resolving such cases comes after the House of Representatives approved a law last month bringing these cases under its purview.