Egypt central bank hires Barclays as adviser on sale of its 99% stake in United Bank

Ahram Online , Wednesday 17 May 2023

The Central Bank of Egypt (CBE) has hired the UK's Barclays Corporate and Investment Bank (Barclays CIB) as the international financial adviser for the sale of its 99 percent stake in the state-owned United Bank, according to a statement by the CBE on Wednesday.

The Egyptian Central Bank in downtown Cairo. AFP
The Egyptian Central Bank in downtown Cairo. AFP

 

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Barclays CIB, which is part of Barclays International, will cooperate with local financial adviser CI Capital, a leading financial services group, in advising the CBE on the deal.

The CBE has not announced details on the deal yet.

The United Bank, which was first established in 2006, is among 32 state-owned companies that were recently designated for sale by the government under its IPO programme.

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