Egypt’s Elsewedy Electric acquires 99.25% stake of International Cables Company

Egyptian cable maker Elsewedy Electric said on Sunday it had signed an agreement to acquire 99.25 percent share of International Cables Company for 410 million Egyptian pounds ($26.2 million).
The share purchase agreement (SPA) is conditional on the satisfaction of certain terms and conditions related to this kind of deals, Elsewedy said in a bourse filling.