From the Daily Star Egypt…

The financial advisor for the sale of Banque Du Caire will be announced by the end of this month, said Mohamed Barakat, head of Banque Misr.
He also announced the formation of a committee to follow up on the sale of the bank’s shares.
The committee has recently short-listed five financial institutions out of the 15 that submitted offers for the consultancy role. Formed by Prime Minister Ahmed Nazif, the committee comprises of representatives of the Ministries of Finance and Investment as well as of the Central Bank of Egypt, Banque Du Caire, and Banque Misr.
According to Barakat, the financial advisor’s role is to mainly evaluate the bank’s shares as well as assess offers for the sale. The financial advisor will also launch a marketing campaign to promote the bank and raise the amount of bids.
The Cabinet recently unveiled plans to put 80 percent of Egypt’s third largest public-owned bank up for auction in six to nine months and float another 15 percent on the stock exchange no more than a year later, while its employees will hold the remaining 5 percent.

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