The return of ownership of “Bank of Cairo “to” Bank Misr ” in a £ 7 billion deal

Today, Thursday, the Egyptian Stock Exchange announced the implementation of a transfer of ownership on Banque du Caire shares through the BLOCK TRADING mechanism on the bank’s shares, with a number of approximately 1.125 billion shares, valued at approximately 6.97 billions of pounds.

Banque Misr boss Mohamed El-Atreby said in exclusive to Al-Arabiya that the deal to return ownership of the Banque du Caire to Banque Misr with a deal worth £ 7 billion is just a restructuring of the Banque du Caire property being under Banque Mir.

It is noteworthy that the State Bank of Cairo has been preparing for an offer on the Egyptian stock exchange for several years and its shares owned by the State Bank of Egypt were transferred to Misr Financial Investments Company in 2010, at a price of 17.44 pounds, after Banque Misr acquired all the shares of Banque du Caire in 2007.

The issued and paid-up capital of Banque du Caire is EGP 5.25 billion, distributed over 2.625 billion shares, with a par value of EGP 2 per share, according to the annual report for the year 2020.

Read More About: Business News