Arab Finance: The Sovereign Fund of Egypt (TSFE) received the first draft of fair value (FV) study of Al Ezz Dekheila Steel Co – Alexandria (EZDK), ahead of a potential sale of the government’s stake to Ezz Steel (ESRS), Asharq Business reported on June 18^th, citing unnamed sources familiar with the matter.

The study valued Al Ezz Dekheila's share at EGP 1,060, marking an enterprise value of more than EGP 20 billion, which represents a 25% premium over the stock price on the Egyptian Exchange (EGX).

The state-owned National Investment Bank (NIB) and National Bank of Egypt (NBE) own 14% of Al Ezz Dekheila Steel’s shares, while Ezz Steel holds a 64% stake in the company, with the rest of the shares are being traded on in the EGX.

On May 8^th, Ezz Steel (ESRS) announced that it has not submitted any offer to purchase the government's stake in its subsidiary Al Ezz Dekheila Steel.

Earlier on May 7^th, it was reported by Asharq Business that Ezz Steel was considering acquiring the government’s stake in Al Ezz Dekheila Steel.

However, Al Ezz Dekheila Steel denied such claims.

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