Orascom Construction Industries (“OCI”) announced that an agreement was signed with Dubai Ports World ("DPW") for the sale of its 50% stake in the Egyptian Container Handling Company ("ECHCO"). OCI will receive US$ 372 million for its stake in the company.
ECHCO was established in 1998 to provide terminal handling and port management services. ECHCO is the controlling shareholder of the Sokhna Port Development Company (SPDC). The OCI Construction Group continues to evaluate new investment opportunities in infrastructure concessions.
Deutsche Bank acted as the sole financial adviser to OCI as well as ECHCO's other shareholders.
Source: Orascom Construction Industries PR
