Abu Dhabi Holding, Egypt Wealth Fund Seek Banque du Caire Stake - Bloomberg:
Abu Dhabi Development Holding Co. and Egypt’s sovereign wealth fund are seeking to buy a combined stake in Banque du Caire as part of the state-owned lender’s initial public offering, according to two people familiar with the matter.
The people asked not to be identified because the discussions are private. The Egyptian fund’s chief executive officer, Ayman Soliman, earlier said it was in talks with Banque du Caire with a view to becoming a strategic investor in the IPO.
He didn’t give the name of the international firm also involved, but said an agreement may be reached by the end of March.
ADDH, which was established in 2018 as a public joint stock company and holds a portfolio of state-owned enterprises spanning utilities to health care, declined to comment.
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