Non-binding offer from OTMT to acquire CI Capital

RNS Number : 3814J

Commercial Intnl Bank (Egypt) SAE

17 December 2015

 

RELEASE

Cairo - December 17^th, 2015 - Commercial International Bank (Egypt) would like to announce that it has received a non-binding offer from Orascom Telecom and Media Technology (OTMT) Holding to acquire 100% of CI Capital Holding (CI Capital), CIB's wholly owned investment banking arm, in the range of one  billion Egyptian pounds.

Accordingly, CIB's Board of Directors will convene today to discuss the offer. We will inform the market with the decisions taken in this regard once the Board concludes its meeting.

END OF RELEASE

 

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