Dubai Capital Group has bought a 5.2 per cent stake in Commercial International Bank, Egypt’s largest private bank, for AED580m ($158m).
Dubai Capital Group is a subsidiary of Dubai Group. It will not play a role in the bank’s management.
The group already holds 25 per cent of EFG Hermes, the largest publicly traded investment bank in Egypt as well as a 15 per cent stake in Bank Muscat, the largest lender in Oman.
Dubai Capital Group also holds a 49% stake in Egypt’s Sphinx Glass Company, which it established in partnership with the local Citadel Capital.
You might also like...
Saudi Arabia's Roshn launches Aldanah Dhahran project
25 April 2024
Adnoc sees project spending uptick
25 April 2024
Partanna and Saudi firm tests carbon negative concrete
25 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
