The transaction will involve the acquisition of Oasis’ asset management company, Blue Nile Consulting, and Dynamic by CICH. Oasis and Sawiris

will subsequently take a stake in the expanded company, although the size of the investments

have not been made public. CIB will retain a majority stake with Oasis and Sawiris as ‘significant minority shareholders’.

Due diligence is under way and is likely to be completed by mid-September with the restructured company expected to be in full operation by November.

In addition to the estimated

£E 8,000 million ($1,392 million) of assets it manages, CICH will also manage CIB’s investment portfolio, valued at£E 1,000 million ($174 million). CICH’s activities include investment banking, brokerage, asset management, research, private equity and alternative investments. CICH achieved a net profit of£E 60 million ($10.5 million), a figure that is expected to increase to about£E 150 million ($26 million) in the year following the restructure. CICH will retain its name for the

foreseeable future.