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Mubarak Partner in arms dealings vanishes in thin air!
Where in is the world is Hussein Salem and other Mubarak business partners?
By Aladdin Elaasar — The Pepsi Cola Company in Egypt was bought by Mohammed Nossair with a Saudi partner for a fraction of its price. Nossair worked previously in the Egyptian General Intelligence Agency and is a close friend and business partner to former president Mubarak. Nossair worked as an assistant to Mubarak in founding and running an arms dealing company that they set up in Paris called WHITE WINGS. Other partners in that company were General Mounir Sabet, Mubarak’s brother-in-law and brother of Suzanne Mubarak, Suzanne Mubarak herself, and former Egyptian Minister of Defense Marshal AubGhazala. Other partners in that company were Hussein Salem. Hussein Salem served in the Air Force and the Egyptian Intelligence and is considered one of the biggest arms dealers. He was mentioned in Bob Woodward’s book Veil. Salem owns the Movenpick hotel chain and is said that he gave a palace as a present to Mubarak Jolly Ville sharm El-Sheikh.
The Pepsi Cola Company was one the first public sector companies that were privatized in Egypt by the Mubarak government. The company had eight factories, eighteen production lines and owned a large fleet of trucks. The company also owned huge lots of land. The company owned a lot on Pyramids street. That lot was worth L.E. 155 million Egyptian pounds. Mr. Nossair and his Saudi partner bought the lot for 157 million pounds and sold it later for a $400 million as a share for Mr. Nossair.
Hussein Salem caught in Dubai with $500m in cash in his private jet
On 31 January 11, Amiram Barkat and Kobi Yeshayahou reported that Hussein Salem, an Egyptian partner of Israeli businessman Yosef Maiman in the East Mediterranean Gas Company (EMG), which has long term agreements to supply natural gas to Israel, has been caught in Dubai with $500 million in cash in his possession, according to agency reports this morning.
It was reported yesterday that Salem and his family had fled Egypt because of the turmoil in the country. Arab media report that Salem himself went to Dubai, while his family left for an unknown destination. Salem is considered close to the Egyptian regime, particularly to President Hosni Mubarak’s son Gamal Mubarak, who has reportedly left Egypt for London.
Salem owns 28% of EMG, which has supplied gas to Israel since June 2008. Salem is one of the most mysterious business people in Egypt, and as far as is known he has never been interviewed in the Western press. In Egypt I he is known as the owner of a hotel chain, and as the confidant of Mubarak and his family. His business tie with Maiman was formed when they were partners in the construction of a refinery in Alexandria at the end of the 1970s.
Maiman sold his holding in the refinery at the beginning of the decade because of internal; criticism in Egypt, and started to focus on the export of natural gas to Israel. When EMG was founded in 2000, Salem owned 65%, Maiman owned 25%, and the Egyptian government owned the rest. Yesterday morning, in an official press release, Maiman said that exports of gas to Israel by EMG would continue as usual.
In July 2007, Salem sold 12% of EMG to Sam Zell and David Fisher of the US at a valuation of $2.2 billion, and four months later sold 25% to the Thai national oil company PTT at a valuation of $2 billion. The rest of the shares in the company are now owned by Maiman (20.6%), Israeli institutions (4.3%), and the government of Egypt through government gas company EGAS (10%).
Salem was given the ownership of a Nile island near Luxor through the Egyptian government. The island is called Temsah (Crocodile) Island. Salem built few tourist enterprises on it. That island is priceless. It holds about two thirds of some of the most important monuments. Salem also obtained huge lots of land from the government in Sharm El Sheick and Ras Sidr in Sinai. It is believed that he owns most of the land in Sharm ElSheich and Neima Bay. Salem also owns a lavish cylindrical in shape palace in Tagamu Khamis (Six thousand square meters). In the mid-seventies, lots of land was given Salem in Sinai that were owned by Wagih Siag. In July 2009, Siag received a court order to be compensated for property and was awarded $174 million paid by the Egyptian government.
Mounir Sabet, is Chairman of Egyptian Marsa Alam Aviation Services Board; Chairman of Egyptian Aviation Services Board. Born in the Upper Egyptian, Sabet is the son of Saleh Sabet, an Egyptian pediatrician, and his Welsh wife Lily May Palmer. Sabet was involved in selling Egyptian government-owned companies through United Cap that oversaw the selling of more than 70 Egyptian companies with allegations of corruption and commissions paid to his company. Sabet is nowhere to be seen now! Is he at Mr. Mubarak’s palace in Sharm ElSheikh? Or did he to London? He is possibly holding a British passport along with Mrs. Mubarak and the rest of the family. Is Hussein Salem in Switzerland now close to his money? The Mubarak regime tried to deter Egyptians expatriates from going back to Egypt and participate in the political process citing dual citizenship. There are about 5 million Egyptians in in the USA, Canada, Australia, Europe and other countries. His regime expelled most of them and contributed to the brain drain that Egypt had suffered in the last decades. Will the Egyptian diaspora be allowed to at least vote in coming elections?
For more info, or commentary, contact Aladdin Elaasar
Aladdin Elaasar is an expert on Egypt and the Arab World. He has been a frequent commentator on the Middle East on American and international TV and Radio networks such as CNN, ABC, NBC, NPR, MSNBC, FOX NEWS, BBC radio and TV, and others. Elaasar has been teaching Mid-Eastern studies at several American universities. He was nominated as a candidate for the presidential elections in Egypt in 2005. His campaign gained worldwide media coverage. His columns cover international relations, current events, and Arab/American issues. He was cited in Guardian, New York Times, The Huffington Post, Washington Post, Sunday Times, Paris Match, La Stampa, and the international press. He is the author of The Last Pharaoh: Mubarak and the Uncertain Future of Egypt in the Obama Age.
CONTACT: Aladdin Elaasar
(224) 388 1353 Email: email@example.com
Also, click to get info on his book Mubarak: The Last Pharoah.
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Hanania writes weekly columns on Middle East and American Arab issues for the Arab News in Saudi Arabia at www.ArabNews.com, and at www.TheArabDailyNews.com, www.TheDailyHookah.com and at SuburbanChicagoland.com. He has also published weekly columns in the Jerusalem Post newspaper, YNetNews.com, Newsday Newspaper in New York, the Orlando Sentinel Newspapers, and the Arlington Heights Daily Herald.
Palestinian, American Arab and Christian, Hanania’s parents originate from Jerusalem and Bethlehem.
Hanania is the recipient of four (4) Chicago Headline Club “Peter Lisagor Awards” for Column writing. In November 2006, he was named “Best Ethnic American Columnist” by the New American Media. In 2009, Hanania received the prestigious Sigma Delta Chi Award for Writing from the Society of Professional Journalists. He is the recipient of the MT Mehdi Courage in Journalism Award. He was honored for his writing skills with two (2) Chicago Stick-o-Type awards from the Chicago Newspaper Guild. In 1990, Hanania was nominated by the Chicago Sun-Times editors for a Pulitzer Prize for his four-part series on the Palestinian Intifada.
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