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Citadel Capital Main Shareholder to Cut Stake to 26%, Mal Says

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Nov. 17 (Bloomberg) -- Citadel Capital Partners plans to reduce its stake in Citadel Capital SAE to 26 percent, Al Mal reported, citing an unidentified company official.

The main shareholder in the private equity firm sold 48 million shares at market value to employees and current investors yesterday, the Cairo-based newspaper said. The move is part of Citadel Capital Partners’ plan to sell a total of 52 million shares, it said.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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