Wednesday 22 June 2011

Egypt's Citadel starts talks on possible buy-out

Egyptian private equity firm Citadel Capital said on Wednesday it was in possible buy-out talks with more than one potential strategic partner.

A source familiar with the matter said this month that Dubai-based Abraaj Capital had held talks with Citadel with a view to possibly buying a stake in the company.

Citadel did not name any suitors in its statement and said the talks were with more than one party.

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