Commercial International Bank Egypt SAE Acquires 38% of Al Arafa for Investment and Consultancies SAE Subsidiary


Sunday, 2 Dec 2012 07:00pm EST 

Al Arafa for Investment and Consultancies SAE announced that it has signed the final agreement with Commercial International Bank Egypt SAE (CIB), in which CIB will acquire a 38% stake in Concrete for Ready-Made Garments SAE, a subsidiary of Al Arafa for Investment and Consultancies SAE, at a total price of EGP 150 million. Al Arafa for Investment and Consultancies SAE will remain the major shareholder of Concrete with 52% stake. 

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