Cairo – Mubasher: The US’ Ripplewood Holdings is planning to acquire an additional stake of 10% in Sixth of October for Development and Investment (SODIC).
A document by Misr for Central Clearing, Depository, and Registry (MCDR) highlighted that Ripplewood has informed shareholders holding more than 1% stake in SODIC to add substantially to its position, according to Enterprise.
Ripplewood holds a 9.35% stake in SODIC and has a representative on its board of directors.
The American Ripplewood was founded by its current CEO Tim Collins who is well-known in Egypt for his investments in the Commercial International Bank Egypt (CIB), in addition to his ongoing investments in SODIC for four years.
