Egypt's Citadel to recover some losses as assets rise | Reuters

Egyptian private equity firm Citadel Capital will recover some losses that were incurred because of falling asset values, Managing Director Stephen Murphy said on Monday.

"As the stock market recovers and asset values improve, that will have a positive impact on our numbers," he said in an interview on the sidelines of a financial conference.

"The losses we reported are very notional. We had to write down the value of some assets in the past but now that the Egyptian stock market is up almost 45 percent since the beginning of the year, we can start writing them back."

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