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Amr el-Nasharty

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Amr el-Nasharty is an Egyptian businessman and the founder and chief executive of the Egyptian Distribution Group, known as Edge.[1]

Sale and repurchase of Edge

In 1999, el-Nasharty sold 80% of Edge to U.K. grocer J. Sainsbury plc for £50 million as part of Sainsbury's attempt to diversify into the Middle East. The venture failed after the stores were boycotted over alleged links to Israel and Sainsburys withdrew from Egypt in 2001, selling the business back to el-Nasharty. The parties are now embroiled in a bitter legal dispute over the terms of the buy-back.[2][3][4]

References

  1. ^ Sean Farrell (2015-04-29). "Sainsbury's rejects claims against chief executive sentenced to jail in Egypt | World news". Theguardian.com. Retrieved 2015-05-03.
  2. ^ "Sainsbury's Boss Jailed In Absentia In Egypt". News.sky.com. Retrieved 2015-05-03.
  3. ^ Finance. "Sainsbury's hit by claim over failed Egyptian foray". Telegraph.co.uk. Retrieved 2015-05-03.
  4. ^ Pleasance, Chris (2015-04-29). "Sainsbury's CEO Mike Coupe sentenced in his absence to two years in Egyptian jail | Daily Mail Online". Dailymail.co.uk. Retrieved 2015-05-03.


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