Cairo - Mubasher: The board of directors of CI Capital Holding For Financial Investments approved in principle a non-binding offer submitted by Banque Misr to purchase CI Capital's stake of 98.1% in CI Consumer Finance - Souhoola. 

The board also approved the fair value (FY) study conducted for Souhoola's shares by Karvy Financial Advisory Services, the company said in a bourse disclosure on Tuesday. 

The decision will be referred to the ordinary general meeting (OGM) for approval once the final offer is submitted. 

In the first quarter (Q1) of 2021, CI Capital Holding For Financial Investments posted consolidated net profits of EGP 3.28 million, down from EGP 101.86 million in Q1-20, including minority shareholders' rights.