Will cigarette prices drop after the UAE buys a large share of Eastern Tobacco? Monday 04/September/2023 - 11:01 PM If you don't know, you should know that... UAE's Global Investment Holding Company has become a new player in Egypt's cigarette market. This is after acquiring a 30% stake in Eastern Company. And so... The government gave up the majority stake in the company after the share of the state-owned Holding Company for Chemical Industries fell from 50.9% to 20.9%. Thus, the government is no longer the majority shareholder in the company. Plus, businessman Mohammed Alabbar and Saudi investors invested more than EGP 400 million in buying more than 25% of the company's private offering. ... [Read more]