Commercial International Bank (Egypt)E OTCPK:CMGG.F Stock Report

Commercial International Bank - Egypt Announces Board Changes

Commercial International Bank - Egypt (CIB) announced that the CBE approved the appointment of Mr. Fadhel Al Ali and Mr. Aziz Moolji as non-executive Board members. Mr. Fadhel Al Ali serves as Chairman of Dubai Financial Services Authority, and brings 30 years of experience in multiple industries including real estate, hospitality, investment, and banking. Mr. Al Ali started his career as a banker in 1989 in Citibank, and led the financial restructuring of Dubai Holding's investment groups in which he served as its Chief Executive Officer until 2017 before serving as FAB's Deputy CEO and Group COO from 2017 until 2021. Mr. Aziz Moolji serves as ADQ's M&A and Alternative Investments Director, prior to which he was Dubai Holding's Vice President of Investment and Portfolio Management from 2019 until 2021. Throughout his career, Mr. Al Moojli held several positions in global investment banks such as Goldman Sachs and Merrill Lynch.

Alpha Oryx Limited acquired 18.6% stake in Commercial International Bank (Egypt) S.A.E (CASE:COMI) for approximately $990 million.

Alpha Oryx Limited acquired 18.6% stake in Commercial International Bank (Egypt) S.A.E (CASE:COMI) for approximately $990 million on April 20, 2022. Alpha Oryx Limited completed the acquisition of 18.6% stake in Commercial International Bank (Egypt) S.A.E (CASE:COMI) for approximately $990 million on April 20, 2022.

An unknown buyer acquired 9.168% in Commercial International Bank (Egypt) S.A.E from National Bank of Egypt for $487.1 million.