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Egypt close to 1 billion euro French arms purchases - paper
March 22, 2016 / 2:02 PM / 2 years ago

Egypt close to 1 billion euro French arms purchases - paper

PARIS (Reuters) - Egypt is preparing to buy French warships and a military satellite in deals worth more than 1 billion euros (£790 million), La Tribune newspaper reported on Tuesday.

French President Francois Hollande (R) shakes hands with Egypt's President Abdel Fattah al-Sisi before a bilateral meeting during the opening day of the World Climate Change Conference 2015 (COP21) at Le Bourget, near Paris, France, November 30, 2015. REUTERS/Philippe Wojazer

The four naval vessels to be built by French naval shipyard DCNS include two Gowind corvettes, the newspaper reported, without citing sources.

The military satellite would be supplied jointly by Airbus Space Systems, part of Airbus Group, and Thales Alenia Space, owned by French arms firm Thales and Italy’s Finmeccanica, recently renamed Leonardo.

Thales also owns 35 percent of the DCNS shipyard.

None of the companies agreed to comment.

The deals are expected to be signed during a visit to Egypt by French President Francois Hollande on April 18.

Egypt had originally been reported to be in talks to buy two French military satellites.

Reporting by Cyril Altmeyer, Writing by Tim Hepher

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