Suez Cement received US$45.3 million from the sale of its stake in the Egyptian Cement Company to Holderbank, reported the Daily Khaleej Times Dubat.

According to the Times, Suez sold the 8% stake in ECC at US$.76. Holderbank also paid US$5.1 for Suez's contribution to ECC's shareholders loan.

The proceeds will be used in reducing the outstanding debt raised to finance the acquisition of 65% of Tourah Portland Cement Co.