Clarification to what was announced in the media

RNS Number : 1603O

Commercial Intnl Bank (Egypt) SAE

04 February 2016

 

Release

Cairo, February 4^th, 2016 - 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 17^th, 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.

End of Release

 

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