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French cement company sues Egypt army over takeover attempt ...Kuwait
A French cement company has filed a lawsuit against the Egyptian army, demanding substantial financial compensation for losing out when the Egyptian military took increasing control of the construction industry. Vicat Cement, the main shareholder in Sinai Cement since 2003, claims it unfairly lost a chunk of its shares when the Egyptian military took control of the construction industry under the pretext of “preserving Egyptian national security” It is also arguing that Egypt is preventing the company from operating, on the grounds that its ownership of the majority stake in Sinai Cement conflicts with a law prohibiting foreign companies from owning the lands of the
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