Actis offloads remaining 6.5% stake in Egypt’s CIB
Egypt’s biggest-listed lender, Commercial International Bank, has announced that private equity firm Actis had sold its remaining 6.5% stake in the bank to Fairfax Financial Holdings Ltd, Reuters has reported. Actis invested in CIB in 2009, making it the bank’s largest single shareholder. It had sold another 2.6% stake to international investors in March, CIB said. CI Capital Investment Banking acted as the exclusive financial adviser to Actis, it said.