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Sawiris’ talks over stake in Shalateen Mineral halt

Sawiris’ talks over stake in Shalateen Mineral halt

ArabFinance: Egyptian businessman Naguib Sawiris’ negotiations with the government to purchase equity in the state-owned Shalateen Mineral Resources Company have been suspended, Reuters cited petroleum minister Tarek el Molla on November 19th.

The news portal did not mention further details.

Last July, Sawiris was reportedly going to conclude the talks on the potential acquisition of a 51% stake in Shalateen Mineral.

Sawiris-backed Endeavour Mining Corporation recently agreed to purchase Teranga Mining Corporation.

 

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