Press Release
Cairo, November 30th, 2015 - Further to the press release dated July 12th, 2015, CIB would like to announce that it has concluded the sale transaction of its 45% stake in Commercial International Life Insurance Company "CIL" along with Legal and General's 55% stake, to AXA.
Worthy to highlight that CIB will offer exclusive distribution services to AXA through a 10-year partnership agreement. This alliance is derived from CIB's commitment towards its clients to continue offering them excellent value-for-money insurance products.
AXA, which is one of the leading global insurance players, comes in with wealth of expertise in the insurance field and a notable track record of success.
Worthy to note that CI Capital has acted as the exclusive sell side financial advisor to Legal and General and CIB.
