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Italian cement producer and distributor Italcementi has announced the signing of a memorandum of understanding (MoU) with Egyptian private equity firm Citadel Capitalfor the right to acquire additional equity in Egypt’s ASEC Cement Group. The deal came just two weeks after it signed a framework agreement with Saudi Arabia’s Arabian Cement Company (ACC) to co-operate on the development of new projects in the kingdom and elsewhere in the region. Italcementi is one of the five largest cement producers worldwide, excluding China.