Arab Finance: The National Bank of Egypt (NBE) and Banque Misr are planning to sell their 26% stake in Alexandria Mineral Oils Company (AMOC), three government sources familiar with the matter told Asharq Business.

The state-run banks are currently in talks with the Egyptian General Petroleum Corporation (EGPC) and Arab investors to fully or partially exit from AMOC, one source disclosed.

The move is part of both banks’ plan to recirculate the direct investment portfolios and lure new investments, another source said.

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