Orascom in $212m loan deal to buy DSM assets
Cairo, June 2, 2010
Orascom Construction Industries (OCI), Egypt's biggest listed builder, has secured a loan worth over 175 million euros ($212.6 million) to part finance the buying of assets from Dutch chemicals group DSM, a newspaper said on Wednesday.
OCI, which also makers fertilisers, said on Tuesday it had completed the purchase of DSM's melamine and agricultural businesses.
Business daily Al-Mal reported OCI's investor relations director, Hassan Badrawi, as saying OCI would get the loan, worth more than 175 million euros, from an un-named Dutch bank. He said the deal was worth 310 million euros.-Reuters