Alekbaylee Posted July 19, 2014 Share Posted July 19, 2014 http://www.act.is/PressRelease/190 Actis, the pan-emerging market investor, today announced it has successfully realised its investment in Commercial International Bank (CIB), the leading bank in Egypt. Actis has sold its remaining 6.5% to add to the 2.6% sold to international investors in March 2014. Actis invested in CIB in July 2009 in a transaction that made Actis the largest single shareholder. Since then, the bank has grown significantly despite a period of political instability since the Arab Spring of 2011. Actis has sold its remaining 6.5% to Fairfax Financial Holdings Ltd (“Fairfax”). http://www.bloomberg.com/news/2014-07-16/greek-banks-able-to-tap-investors-after-stress-tests-hfsf-says.html Money managers including Paulson & Co., Fairfax Financial Holdings Ltd. (FFH) and Fidelity pumped 8.3 billion euros ($11 billion) into Greece’s four biggest banks in the first half of this year. Institutional investors may again be called on to inject money if the European Central Bank’s own tests in October conclude more is needed, HFSF Chairman Christos Sclavounis said. Ireland, Greece, Spain, Egypt, maybe Portugal and Italy... Truly impressing! Everyone should have some FFH/FRFHF in his portfolio. Go Fairfax Go! Link to comment Share on other sites More sharing options...
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