Actis sells down stake in listed Eqyptian bank CIB


UK emerging markets private equity firm Actis has sold down its stake in Egyptian banking group Commercial International Bank (CIB) to 6.5 per cent.

The firm previously took a 9.1 per cent stake in CIB in 2009 and will retain a seat on the board.

Actis sold a 2.6 per cent stake in the Cairo-listed bank for $117m, Reuters reported.

In December 2013 Actis closed its third energy fund, Actis Energy 3, on $1.15bn, exceeding its original target of $750m.

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