Al Ezz Dekheila Steel Company - Alexandria S.A.E. agreed to acquire an unknown stake in Al Ezz Flat Steel Co. from Ezz Steel Company (CASE:ESRS) for $356 million on October 3, 2019. Al Ezz Dekheila Steel Company - Alexandria S.A.E. will acquire 35.3 million shares for $10.09 per share of Al Ezz Flat Steel Co. by means of creating a credit balance to be used to subscribe to the capital increase of Ezz Dekheila Steel – Alexandria. The transaction has been approved by Board of Ezz Steel Company.

Al Ezz Dekheila Steel Company - Alexandria S.A.E. (CASE:IRAX) completed the acquisition of Al Ezz Flat Steel Co. from Ezz Steel Company (CASE:ESRS) on November 17, 2019.