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Release from Al Arafa Investment and Consulting (AIVC.CA) Concerning Signing an Agreement with CIB

Concrete Fashion Group CFGH -4.08% 0.05 -0.00
CIB COMI -4.46% 77.53 -3.62

Release from Commercial International Bank (?CIB?) and Al Arafa for Investments and Consultancies (?Arafa Holding?) announcing the signing of the final agreements relating to CIB?s purchase of a 38% secondary stake in Concrete for Ready-Made Garments S.A.E. (?Concrete?), a subsidiary of Arafa Holding, at a total deal size of EGP 152 million for the purchased stake. Post-acquisition, Arafa will remain the major shareholder of Concrete with 52% stake.

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