RHJI: RHJ International Announces Partial Divestment of its Stake in
Commercial International Bank o
RHJI: RHJ International Announces Partial Divestment of its Stake in Commercial International Bank of Egypt
(Thomson Reuters ONE) - RHJ International ("RHJI") announces today that it has entered intoan agreement to sell 63% of its stake in Commercial InternationalBank (Egypt) S.A.E. ("CIB") for a total cash consideration of USD53.1 million, representing a capital gain of 107% to its initialpurchase price. As part of a consortium led by Ripplewood HoldingsL.LC., a leading U.S.-based private equity firm, RHJI had acquiredits stake in February of 2006.RHJI's remaining stake of 3.5 million CIB shares is valued at anequivalent USD 31.2 million at yesterday's closing price.In addition to the sale of its stake in CIB, RHJI also disposed of aminority interest for total cash proceeds of EUR 15.9 million,yielding a capital gain of EUR 7.5 million and representing anabsolute return of 90%.Both transactions reinforce RHJI's cash position that is projected toamount to EUR 438 million upon closing of the CIB sale which isexpected no later than July 22, 2009.RHJ International (Euronext: RHJI) is a diversified holding companyfocused on creating long-term value for its shareholders byacquiring and operating businesses in attractive industries. Forfurther information visit www.rhji.com.Arnaud DenisInvestor Relations DirectorRHJ InternationalTel. +32 2 643 60 13http://www.rhji.cominvestor-relations(at)rhji.comhttp://hugin.info/135946/R/1327757/312878.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 08.07.2009 - 05:46 Uhr
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