Both ESRS - Ezz Steel and IRAX- Ezz Al-Dekhela shares prices surged after the published news of EZZ Steel acquiring the Egyptian government stake at Ezz Al-Delhela
According to Bloomberg El Sharq, Ezz Steel - ESRS is in Talks to Acquire the Egyptian government stake at Ezz Al-Delhela. The Egyptian Government holds a position of around 14% of the company; neither the company management nor the Government confirmed this news or even disclosed it through the Egyptian Exchange.
ESRS and IRAX closed on a higher note, in which IRAX closed at EGP 968/Share +4.95% and reached a new 52-week high price of EGP 971/share, ESRS closed EGP 41.70/share +4.12%.
News Source: https://www.asharqbusiness.com/article/49948/حديد-عز-تسعى-لشراء-حصة-الحكومة-المصرية-في-العز-الدخيلة/
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