Kingdom Holding says did not give up contested Egyptian land

Riyadh–Saudi's Kingdom Holding said on Saturday it had not given up contested land in southern Egypt and had spoken to Egypt's public prosecutor about a settlement.

"Kingdom Holding did not give up the land in the Toshka project and still owns it… and it has not been confiscated by any party," the firm, majority owned by Saudi billionaire Prince Alwaleed bin Talal, said in a bourse statement.

The firm also suggested three options that it presented to the public prosecutor to reach a settlement on the issue.

Egypt's public prosecutor has been investigating business transactions and the finances of officials under former president Hosni Mubarak since mass protests forced him out of office on 11 February.

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