Cairo, Egypt (CNN) – Al Ezz Dekheila Steel Company is pleased to announce the successful completion of the acquisition of an 18% stake in Egyptian Steel Group from prominent businessman Ahmed Abou Hashima.

The decision to acquire this stake was approved by the board of directors of Al Ezz Dekheila Steel Company on December 9. The transaction, valued at 2.5 billion Egyptian pounds, was financed using the company’s internal resources. This strategic move underscores Al Ezz Dekheila’s commitment to expanding its market presence and increasing its export capabilities.