COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E. In reference to an announcement published in the media regarding the potential acquisition of CI-Capital holding (A CIB wholly owned subsidiary) by Al Ahly Capital Holding upon completion of a due diligence process, CIB would like to clarify that we have only received a written expression of interest that did not include a non-binding offer nor indicative price.
As we have already received a non-binding offer from a potential buyer which was disclosed on December 17th, 2015, accordingly, we highlighted to the interested party that they are requested to sign a Non- Disclosure Agreement and to present a non-binding offer in order for us to discuss the matter internally prior proceeding with a due diligence process in line with common practices in similar transactions.
As such, CIB will make an announcement to the market in case of any further developments.
CIB - Commercial International Bank (Egypt) SAE issued this content on 04 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 February 2016 20:41:07 UTC
Original Document: http://www.cibeg.com/English/News/Pages/CI-Capital-Clarification-regarding-what-was-announced-in-the-media.aspx
