CIB extends SPA period regarding CI Capital deal

RNS Number : 6971W

Commercial Intnl Bank (Egypt) SAE

28 April 2016

 

RELEASE

Cairo - April 28^th, 2016 - In reference to the Bank's release dated April 14^th, 2016 which included disclosing that CIB and Beltone Financial Holding have extended the validity of the signed SPA pertaining to the sale of the Bank's shares in CI Capital Holding ("CI Capital") to end on April 28^th, and the following release dated April 20^th , in which it has been disclosed that CIB has fulfilled its role in eliminating all obstacles related to the Bank, in this regard, CIB would like to announce that both parties have agreed today to further extend the SPA period for an additional 15 days commencing April 28^th , 2016 until May 12^th, 2016.

Such decision has been taken to  allow Orascom Telecom and Media Technology Holding ("OTMT") to eliminate all the obstacles that currently hinder obtaining the "no objection" certificate from the Egyptian Financial Supervisory Authority (EFSA).

CIB will inform the market with any material event resulting from said acquisition process.

END OF RELEASE

 

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