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Debevoise advises Ripplewood consortium on sale of CIB interest

Debevoise & Plimpton has advised Ripplewood Holdings, Eton Park Capital Management and RHJ International in the sale of a 9.9 per cent interest in Commercial International Bank to A

Debevoise & Plimpton has advised Ripplewood Holdings, Eton Park Capital Management and RHJ International in the sale of a 9.9 per cent interest in Commercial International Bank to Actis for USD244m.

The transaction makes Actis the largest single investor in CIB.

Headquartered in Cairo, Egypt, CIB was established in 1975 as a joint venture between the National Bank of Egypt and the Chase Manhattan Bank under its original name Chase National Bank of Egypt.

CIB has total assets of EGP62bn (USD11bn).

Based in New York, Ripplewood Holdings is a private equity firm established in 1995 by Timothy C. Collins. Through five institutional private equity funds managed by Ripplewood, the firm has invested over USD4bn in transactions in the US, Asia, Europe and the Middle East.

The Debevoise team was led by partner Guy Lewin-Smith and included associates Charles Young and Finn O’Hegarty.

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