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Ashraf Salman to exit his businesses and resigns from other posts

By Abdel Qader Ramadan   Newly appointed Minister of Investment Ashraf Salman told the Daily News Egypt he is exiting businesses he owns and 18 other positions he holds after his cabinet appointment. Salman held the position of CEO of Cairo Financial Holding as well as other executive and advisory positions for several companies. Salman’s …

Daily News Egypt

TransCentury sells Rift Valley Railways stake to Egypt’s Citadel

Reuters – Kenya’s TransCentury said on Tuesday that it has sold its 34% stake in Rift Valley Railways (RVR) to Egyptian private equity firm Citadel Capital. Citadel said it bought the shares for $37.8m, raising its stake to 85%. Uganda’s Bomi Holdings owns the rest. RVR, operator of the sole rail line linking Kenya’s Indian …

Daily News Egypt

Private equity firm Actis reduces stake in Egypt’s CIB

Reuters – Private equity firm Actis has reduced its holding in Commercial International Bank (CIB), Egypt’s biggest listed bank, to 6.5%, CIB said on Monday. CIB said Actis sold a 2.6% stake in the bank “in the open market to a group of international investors”. The shares were sold to Egyptian and other Arab institutions …

Daily News Egypt

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