Jump to navigation

Vol 55 No 7

Published 4th April 2014


Egypt

Out of reach

The shareholders of Egypt's Ajwa for Food Industries Company are embroiled in a long-running dispute with the former non-executive Chairman, the Saudi Arabian billionaire Sheikh Mohamed bin Issa al Jaber. The regulator, the Egyptian Financial Supervisory Authority, is ready to reach a settlement with Al Jaber, provided the 55-year-old repurchases shares in the company that he sold in an 'irregular fashion' three years ago. EFSA Executive Chairman Sherif Samy says this is the 'big outstanding issue', after the company was suspended from the Egyptian Stock Exchange over the share dealings.

End of preview - This article contains approximately 295 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.


If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.