Cairo – Decypha: The first phase of CI Capital's acquisition, which involves the sale of 65% of the companywith a value of EGP 570 million, is in the process of finalization. The deal is expected to be finalized within fifteen days.
Thebes Group’s head Saddiq Afifi will acquire a 5% to 10% stake in CI Capital, Al Borsa news reported.
Previously Afifi had backed out of the deal, citing “loss of interest” and “personal reasons” as the cause, according to Enterprise.
Sources have stated Afifi went ahead with the deal after the approval of the Egyptian Financial Supervisory Authority earlier this month.
The first phase of CI Capital's acquisition, which involves the sale of 65% of the companywith a value of EGP 570 million, is in the process of finalization.
By Decypha News Editorial Team
