Egypt’s Cleopatra Group Chairman Selling Assets, Ahram Gate Says

Egyptian businessman Mohamed Abou El Enein, chairman of Ceramica Cleopatra Group and a former member of ousted president Hosni Mubarak’s party, plans to sell all his assets in the country, state-run Ahram gate reported, citing a statement from the company’s media department.

Abou El Enein was banned from travel by the public prosecutor, which is investigating allegations his company violated a collective labor agreement, withheld pay and tried to stop workers from doing their jobs, according to a July 5 statement from the prosecutor.

The producer of tiles and sanitary ware employed 12,000 workers and exported to more than 100 countries as of 2008, according to its website.

To contact the reporter on this story: Salma El Wardany in Cairo at selwardany@bloomberg.net

To contact the editor responsible for this story: Bryson Hull at bhull5@bloomberg.net

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