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Egypt's CIB in talks to sell stake in investment banking arm CI Capital- sources
November 30, 2016 / 11:01 AM / a year ago

Egypt's CIB in talks to sell stake in investment banking arm CI Capital- sources

CAIRO, Nov 30 (Reuters) - Egypt’s largest listed bank CIB is in talks with a group of investors to sell a stake in its investment banking arm CI Capital, sources with knowledge of the discussions told Reuters on Wedensday.

Commercial International Bank declined to comment.

A deal to sell CI Capital to Beltone Financial that was agreed in February later fell through after failing to secure approval from the Egyptian Financial Supervisory Authority.

Banking sources said that CIB had been in talks to try to find other buyers with the aim of completing a deal to sell a majority stake by the end of the year. (Reporting by Asma Alsharif and Ehab Farouk; Editing by Lin Noueihed)

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