National Bank of Egypt sells stakes in 6 companies

CAIRO, July 1 (Reuters) - State-owned National Bank of Egypt has sold its holdings in six companies for a combined total of 5.29 billion Egyptian pounds ($993 million), the financial daily Al Mal said on Tuesday.

The bank sold its stakes in Abu Qir Fertilisers and Chemicals (ABUK.CA), Ezz Dekheila Steel (IRAX.CA), Egyptian Resorts (EGTS.CA), Alexandria Mineral Oils Company (AMOC) (AMOC.CA), Sidi Kerir Petrochemicals (SKPC.CA) and Misr Cement Qena (MCQE.CA), according to the paper.

The paper said the sales were probably prompted by the failed attempt last week to auction off the state-owned bank Banque du Caire.

Bank officials were not available to comment because Tuesday is a holiday for public-sector banks.

The proceeds of the auction would have been divided between National Bank of Egypt and another state bank, Banque Misr, to pay off the public sector's debts to both banks and finance their restructuring, Al Mal said.

Egypt cancelled the auction of up to 67 percent of Banque du Caire, its third-largest bank, on Wednesday, saying the bids from three foreign banks were too low.

The sale of National Bank's stakes in the six companies took place on the last day of the fiscal year. (Writing by Aziz El-Kaissouni; editing by Sue Thomas)