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EFSA freezes stocks of 75 businessmen, officials and their families
Amr Ramadan Published in Daily News Egypt on 02 - 03 - 2011

CAIRO: The Egyptian Financial Supervisory Authority (EFSA) sent a list with names f businessmen, public officials and their families to brokerage firms Wednesday, with orders from the prosecutor general to temporarily freeze their assets in Egypt's stock exchange.
The list, published on the EGX website Monday, includes the names of ousted president Hosni Mubarak and members of his family, Ahmed Ezz of Ezz Steel, former interior minister Habib El-Adly, former housing minister Ahmed El-Maghrabi, former trade minister Rachid Mohamed Rachid, former information minister Anas El-Fiqi and former tourism minister Zoheir Garannah.
The names of family members of those on the original list — which included 25 names — were added Tuesday, bringing the total number of names to 75.
El-Maghrabi's family company is a joint-venture partner in investment firm Mansour and Magrabi for Investment and Development (MMID), which owns 20 percent of Credit Agricole Egypt, and a 54 percent stake in Palm Hills Developments as well as a number of other companies including McDonald's.
Also on the list is Yasseen Mansour, chairman of Palm Hills Developments, and one of three brothers running the Mansour Group. Ali Halawa, chairman of the publicly-traded Societe Egyptienne D'entreprises, is also on the list along with Mustafa Nasrat, chairman of Misr Concrete, and Nabil Selim, chairman of government-owned Egyptian General Company for Tourism and Hotels (EGOTH).
According to the EFSA, the aim is to determine if these people have any shares, stocks or bonds in companies listed on the stock market, and require listed companies to immediately report and prevent any transactions conducted by those named.
EFG -Hermes Holding has said that Gamal Mubarak, son of the former president, has an 18 percent stake in its subsidiary, whose revenues represent no more than 7 percent of the group's total.
The investment bank also announced that former Minister of Information Anas El-Fiqi, owns 5,100 shares in the company, and Yasseen Mansour owns 3,588 shares according to Masrawy news portal.
Masrawy also reported that the company for Marine and Petroleum Services, Maridive, said that El-Fiqi owns 3,414 shares in the company.

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