AMEinfo EXPERTS
by Ismail Al Hammadi
Al Ruwad Real Estate


by Ali Nehme
Publicis Media Middle East


VIEW ALL EXPERTS

US private equity acquires stake in Egypt’s SODIC

May 11, 2014 10:25 am


Egypt’s EFG Hermes has sold a 10% stake in property developer, Six of October Development and Investment (SODIC), to US private equity firm, Ripplewood, for EGP217.17m ($30.9m), Reuters has reported. The deal was Ripplewood’s second investment in Egypt, after the company said on Wednesday it had acquired a 2.3% stake in Palm Hills, the country’s second-largest listed property developer, and hoped to increase its stake over time.

By

s