Amr el-Nasharty is an Egyptian businessman and the founder and chief executive of the

Egyptian Distribution Group The Egyptian Distribution Group (a.k.a. EdgeDeidre HipwellHow Sainsbury’s Egyptian adventure turned into a pyramid of trouble ''The Times'', 29 April 2015) is a supermarket chain in Egypt.

, known as Edge.

Sale and repurchase of Edge

In 1999, el-Nasharty sold 80% of Edge to

U.K. The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of the continental mainland. It comprises England, Scotland, Wales and North ...

grocer J. Sainsbury plc for £50 million as part of Sainsbury's attempt to diversify into the

Middle East The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq. The term came into widespread usage by the United Kingdom and western Eur ...

. The venture failed after the stores were boycotted over alleged links to

Israel Israel, officially the State of Israel, is a country in West Asia. It Borders of Israel, shares borders with Lebanon to the north, Syria to the north-east, Jordan to the east, Egypt to the south-west, and the Mediterranean Sea to the west. Isr ...

and Sainsburys withdrew from Egypt in 2001, selling the business back to el-Nasharty. The parties became embroiled in a bitter legal dispute over the terms of the buy-back that saw Sainsbury CEO Mike Coupe accused of criminal acts by an Egyptian court. In June 2015, Coupe was acquitted of the charges.BRIEF-Sainsbury says CEO Mike Coupe acquitted by Egyptian court.
Reuters, 11 June 2015. Retrieved 13 June 2015.

References

External links

Amwalalghad.com
Living people Egyptian chief executives Year of birth missing (living people) {{Egypt-business-bio-stub