What it was
The Suez Canal Company — formally the Compagnie universelle du canal maritime de Suez — was founded in 1858 by Ferdinand de Lesseps to build and operate the canal under a 99-year concession granted by the Egyptian viceroy Said. It was headquartered in Paris, and initially Egypt held a large block of shares alongside French private investors.
Role
The company built the canal in 1859–69. In 1875 the indebted khedive Ismail sold Egypt’s shares to the British government, making Britain the largest single shareholder and entrenching Anglo-French control of the waterway. The Constantinople Convention of 1888 declared the canal open to ships of all nations in war and peace. The company earned enormous tolls while Egypt’s share of the benefits stayed limited — a standing nationalist grievance.
Fate
On 26 July 1956 President Nasser nationalized the company, triggering the Suez Crisis. Shareholders were compensated under a 1958 agreement. The canal has since been run by Egypt’s Suez Canal Authority, while the French company continued outside Egypt as an investment firm.