Cairo – Mubasher: The Commercial International Bank – Egypt (CIB) said the value of selling 71.94% stake in CI Capital Holding amounts to EGP 683.4 million, according to a press release.

Earlier, CIB unveiled that it signed Sale and Purchase Agreements (SPAs) with a group of non-related Egyptian and Gulf investors for the sale of 71.94% of CI Capital Holding

CIB noted that this move comes in the line of its strategy to gradually exit from its subsidiaries and affiliated investments.

The transaction was structured as a book building process that targeted prominent local and regional individual and institutional investors, noted the press release.

CIB stated that the transaction is expected to be finalized once all necessary regulatory approvals are obtained.