September 19, 2019 / 2:33 PM / a month ago

Egypt's SODIC interested in a stake in Heliopolis Housing - CEO

CAIRO, Sept 19 (Reuters) - Egyptian property developer SODIC is interested in buying a 10% stake that state-controlled Heliopolis Housing is due to offer in the coming months, its CEO said on Thursday.

“In principle we are interested in the matter, but the offer terms are not clear,” Magued Sherif said in an interview with Reuters.

Egypt’s public enterprise minister said in June the government wanted to sell the stake before the end of 2019 and turn the management of the company over to the buyer.

Reporting by Ehab Farouk; Writing by Patrick Werr and Mahmoud Mourad; Editing by David Evans

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