A capital group of the United Arab Emirates took over all the shares of Egyptian Fertilizers Company (EFC) at a total value of 1.4 billion U.S. dollars, Egypt's MENA news agency reported on Monday.

The Abraj Capital Group purchased 320 million shares for 4.41 dollars per share, the report quoted sources at the Egyptian Stock Exchange as saying.

The UAE's company signed the acquisition contract with EFC's shareholders late last week after several months of negotiations, the report added, without providing further details about the deal.

MENA said in Sunday's report that the acquisition deal was between the UAE capital group and Egyptian Cement Company.

Source: Xinhua