Italcementi to Buy Stake in Egypt Firm (Reuters)

Egypt's Arab-Swiss Engineering Co. (ASEC) said on Sunday it had initialled a deal for Italy's biggest cement firm Italcementi (ITAI.MI: Quote, Profile, Research) to buy its 68 percent stake in ASEC Cement Co. (ASIC).
The deal valued ASEC Cement's assets at 4.6 billion pounds ($793 million), Khalifa said, adding Italcementi was due to complete due diligence within 45 days.