December 8, 2009 / 10:19 AM / 8 years ago

Egypt's Citadel sells ASEC, United Foundries stakes

CAIRO, Dec 8 (Reuters) - Egypt's Citadel Capital (CCAP.CA) said on Tuesday it sold a 6 percent stake in ASEC Holding and a 6 percent stake in United Foundries Company for a total of $55 million.

Citadel, which controls $8.3 billion in investments, said it sold the stakes to Abu Dhabi-based Emirates International Investment Company to free up funds for investment in other areas.

"The Citadel Capital sold a 6 percent stake in ASEC Holding and a further 6 percent in United Foundries to the Emirates International Investment Company (EIIC) in a deal worth $55 million," it said in an emailed statement. (Writing by Patrick Werr)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below