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Egypt's OCI gets consent for shareholder vote on split Orascom Construction Industries gets the regulator's approval to call for a shareholders meeting to vote on a plan to split its construction and fertilisers businesses
Orascom Construction Industries (OCI) said on Monday Egypt's regulator had approved its request to call for a shareholders meeting to vote on a plan to split its construction and fertilisers businesses. The company has set the vote for 17 May. Under the proposal, OCI would continue to own the fertilisers business, while a new company called Orascom Engineering & Construction would be formed to own its construction businesses.