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UPDATE 1-Egypt picks banks to manage sale of stakes in state-owned companies - official

Mon 14th January, 2019 10:37am
(Adds background)
    CAIRO, Jan 14 (Reuters) - Egypt's CI Capital and Renaissance
Capital will manage the sale of a stake in state-owned Abu Qir
Fertilizers  ABUK.CA , a government official said on Monday.
    EFG Hermes and Citi will manage the sale of a stake in
Alexandria Container and Cargo Handling  ALCN.CA , the official
who spoke on condition of anonymity said. 
    Egypt is working on selling shares in dozens of state-owned
companies over the next three to five years across several
sectors to help boost public finances.  urn:newsml:reuters.com:*:nL8N1R021A
    The state owns vast swathes of Egypt’s economy, including
three of its largest banks - National Bank of Egypt  NBEGPT.UL ,
Banque Du Caire  BQDC.CA , the United Bank of Egypt - along with
much of its oil industry and real estate sector. 

 (Reporting by Ehab Farouk, writing by Lena Masri;
Editing by Alison Williams and Louise Heavens)
 ((Lena.Masri@thomsonreuters.com;))
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