Alaa Arafa sells his stake in CI Capital

M&A WATCH- Alaa Arafa exits CI Capital: Businessman and Arafa Holding boss Alaa Arafa sold his last shares in investment bank CI Capital on Monday, CI Capital said in a regulatory filing (pdf). Arafa held a 1.88% stake before the last sale. Arafa initially bought a 9.9% stake from CIB as part of a consortium of investors that acquired the investment bank and took it public.