22 March 2012
Egypt's largest private equity group Citadel Capital is set to establish a direct insurance brokerage firm, with an issued capital of LE2 million.

The company's ownership structure will involve a financial investment expert with experience in the insurance sector, with Citadel Capital holding the largest stake through its fully-owned platform company for financial services, Finance Unlimited.

The group's opportunity-specific funds control companies with investments of more than $9 billion in 15 industries, including energy, mining, agrifoods, cement and transportation. The group's shares have been traded on the Egyptian stock exchange since 2009.

© Al Ahram Weekly 2012