Egypt Japan Steel Works could sell 50% stake

Privately-owned Egypt Japan Steel Works says it has four offers from institutions and funds looking to buy up as much as 50% of the company, Chairman Mokhtar Soltan tells Al Mal. The transaction, which would be executed in the form of a capital increase, should take place before the end of the year. The company means to raise capital to remedy liquidity shortages that are hampering ongoing expansion plans, especially in light of hikes in the prices of power and fuel.