Updates regarding CI Capital and Al Ahly Capital

RNS Number : 4222O

Commercial Intnl Bank (Egypt) SAE

08 February 2016

 

RELASE

Cairo, February 8^th, 2016 - Further to the release dated February 4th, CIB would like to announce that although today it has received a non-binding offer - from Al Ahly Capital Holding to acquire 100% of CI Capital Holding (CI Capital) in the range of EGP one billion, along with a signed Non- Disclosure Agreement, however, the said offer does not conform with previously communicated timelines.

Accordingly, the management has clarified to Al Ahly Capital holding the necessity of abiding by the stipulated timelines given the nature and stage of such transactions. As such CIB continues to urge the interested parties to present an amended offer that conforms with all terms and conditions.

CIB will inform the market of any material event that results from this process.

End of Release

 

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