Egypt's Ezz Steel said on Thursday it did not expect that legal investigations of its chairman, Ahmed Ezz, would impact the firm's management or operations.

Ezz, who was a top official in ousted president Hosni Mubarak's party, was charged with illegally taking control of state-owned al-Dekheila Steel which then supplied Ezz Steel with steel at reduced prices, causing al-Dekheila heavy losses.

"It is not expected that the investigations related to Engineer Ahmed Ezz would have any impact on the firm's management, or its ability to perform its activities,” a statement said. – Reuters