U.S. firm Ripplewood takes stake in Egypt's SODIC -source

CAIRO Thu May 8, 2014 3:46am EDT

CAIRO May 8 (Reuters) - U.S Investment group Ripplewood has acquired a 10 percent stake in Egyptian property developer SODIC , a source informed about the deal told Reuters on Thursday.

"Ripplewood bought a 10 percent stake in SODIC's shares," the source said.

On Wednesday EFG Hermes said in a statement it sold a part of its stake in SODIC, amounting to 9.9 percent of their shares in the company. (Reporting by Ehab Farouk, writing by Asma Alsharif; editing by Jason Neely)

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