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Suez Canal Bank reveals Hussein Salem shares

More details are coming out on the amassed wealth of close associates of ousted President Hosni Mubarak

Ahram Online, Thursday 24 Mar 2011
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The Suez Canal Bank stakeholders list has revealed that Egyptian business tycoon Hussein Salem owns 172,500 shares.

Salem is widely known as a close confidante of former President Hosni Mubarak and owns some of the most important touristic sites in Sharm El-Sheikh as well as shares in the East Mediterranean Gas Company (EMG), which exports Egyptian gas to Israel.

On 10 March, the Cairo Criminal Court confirmed a decision to freeze all the personal and family assets of Salem.

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