Cairo – Mubasher: The board of directors of Misr Fertilizers Production Co (Mopco) approved the resignment of representatives of Agrium Egyptian Holdings, namely Greg Mcglone, Farooq Nasser, and Ashraf Ezz El Din Mohamed Hussein, as the company sold its entire stake in Mopco.
In addition, the board approved the appointment of Ahmed Ashraf Ali Kouchouk, Sherine Hamed Mohamed, and Abdel Halim Mohamed Ibrahim as board members, representing the Egyptian Ministry of Finance, Mopco said in a bourse disclosure on Tuesday.
On Monday, Agrium sold its entire stake of 26% in Mopco in a block-trading deal to the Ministry of Finance for EGP 2.93 billion.
The Ministries of Petroleum and Finance announced that disputes between Mopco’s Egyptian Nitrogen Products Company (ENPC) and Canada’s Nutrien, formerly Agrium, have been settled.
During the first nine months of 2020, Mopco achieved net profits of EGP 1.68 billion, up from EGP 1.25 billion in the corresponding period a year earlier.
