UAE firm acquires 30 pct shares of Egypt’s Eastern company

UAE firm acquires 30 pct shares of Egypt’s Eastern company

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CAIRO, Sept 3 (Reuters) - The United Arab Emirates'

Global Investment Holding Company signed an agreement on Sunday

acquiring 30 percent of shares in Egypt's Eastern Company

, Egypt's cabinet said.

The deal, worth $625 million, "is an affirmation of the

government's determination to ... encourage direct private

investment in various sectors," a statement from Egypt's cabinet

added.

(Reporting by Moemen Atallah, Writing by Adam Makary & Hatem

Maher, Editing by Andrew Cawthorne)

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