CI Capital’s new board of directors will meet on Thursday, 11 May for the first time since CIB sold a majority stake to a consortium of investors, Deputy Chairman and CEO Mahmoud Attallah told Youm7. Arafa Group boss Alaa Arafa, real estate developer Mahmoud El Gammal, businessman Ayman Mamdouh Abbas, and Zahran’s Group Karim Zahran and CIB’s Amr El Ganainy will be taking seats around the table and are reportedly set to name three new independent members to the board. CIB had successfully completed the sale of 74.75% of CI to a consortium of investors last March. Arafa, El Gammal, and Habitat Furniture owner Ismail El Turk are the anchor investors in the transaction, taking stakes of 9.9% each.

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