US private equity acquires stake in Egypt’s SODIC
11/05/2014 10:25 am EDT


share with your network:




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.

About the Author



share with your network:


Share your view



© 1996-2015 Media quest FZ LLC A media and entertainment company
Middle East Main Office
[email protected]
© 2015 Dubai Business | Ameinfo . All rights Reserved.