Arab Finance: Egyptian Ministry of Finance has invited local and international banks to compete for a role as an advisor on the sale of its 20% stake in ALEXBANK, two sources familiar with the matter told Reuters on June 13th.
Minister of Finance Mohamed Maait announced earlier in March that the country was considering selling its remaining 20% stake in ALEXBANK.
It is worth noting that Egypt sold 80% of ALEXBANK to Italy’s Intesa Sanpaolo for $1.6 billion in a major acquisition deal in 2006.