CI Capital approves in principle offer to sell Souhoola

CI Capital owns 98.1% of CI Consumer Finance - Souhoola

  
A general view of buildings by the Nile River in Cairo, Egypt July 2, 2019.

A general view of buildings by the Nile River in Cairo, Egypt July 2, 2019.

REUTERS/Mohamed Abd El Ghany
Cairo - Mubasher: The board of directors of CI Capital Holding For Financial Investments approved in principle a non-binding offer submitted by Banque Misr to purchase CI Capital's stake of 98.1% in CI Consumer Finance - Souhoola.

The board also approved the fair value (FY) study conducted for Souhoola's shares by Karvy Financial Advisory Services, the company said in a bourse disclosure on Tuesday.

The decision will be referred to the ordinary general meeting (OGM) for approval once the final offer is submitted.

In the first quarter (Q1) of 2021, CI Capital Holding For Financial Investments posted consolidated net profits of EGP 3.28 million, down from EGP 101.86 million in Q1-20, including minority shareholders' rights.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Financial Services