The
Universal Suez Ship Canal Company (
French Compagnie universelle du canal maritime de Suez, or simply
Compagnie de Suez for short) was the
French corporation which was formed by
Ferdinand de Lesseps during 1858, constructed the
Suez Canal between 1859 and 1869, and owned and operated it for many years thereafter. Initially, the French government was the majority shareholder, with Egypt also having a significant stake.
When Isma'il Pasha became Wali (during 1863), he refused to ratify the concessions to the Canal company made by his predecessor Said. The problem was referred during 1864 to the arbitration of Napoleon III, who awarded £ 3,800,000 to the company as compensation for the losses they would incur by the changes to the original grant which Ismail demanded. During 1875, financial crisis forced Isma'il to sell his shares to the British government for only £ 3,976,582.
The company operated the canal until its nationalization by Nasser in 1956, which caused to the Suez Crisis.
The company remains extant, after a series of mergers, as GDF Suez, an industrial conglomerate.
