Mistral. Egypt will Buy both undelivered Vessels to Russia

Finance General News
Eygypt to Purchase the two mistral vessels
Eygypt to Purchase the two mistral vessels
Egypt will acquire both undelivered vessels to Russia | AFP

France and Egypt have reached an agreement and terms in principle of the repurchase of the two Mistral warships originally intended for Russia.

The announcement was made ​​by the Elysee this lunchtime, Wednesday at midday: “The President of the Republic met with the President Sissi. They agreed on the principle and terms of the purchase by Egypt of the two Mistral-class vessels”.

The announcement puts an end to the multiple twists in this saga after the sale was cancelled to Russia because of the involvement in the Ukrainian crisis. Four other  countries Canada, India, Singapore, and especially Egypt – had expressed a serious interest in purchasing the two vessels, currently docked at Saint Nazaire.

No “loss”  of money by Stéphane Le Foll

“The discussions were largely completed and well underway with Egypt, and now they have materialized”, said the spokesman of the government Stéphane Le Foll to the Council of Ministers.

It remains unknown, the amount of the agreement with Egypt, which determines the final cost to the state budget.

Mr Le Foll just assured that there would be no “loss” of money. “I will not announce the price but I totally refute what has been announced by some who would say that ‘there would be a loss that would be there for this agreement “, he assured. 

“Things are negotiated, they will be specified in due course”, further stated Mr Le Foll.

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