Dubai Group completes Egyptian Fertilizers Company stake sale

Dubai: Dubai Group, a financial services company of Dubai Holding, said on Tuesday it has sold its 15 per cent stake in Egyptian Fertilizers Company (EFC) through its regional investment management firm Dubai Capital Group.

Dubai Capital Group sold the stake to Orascom Construction & Industries (OCI) as part of the recent transaction between OCI and Abraaj Capital.

Through this exit, Dubai Capital Group said it has realised an internal rate of return of 105 per cent, receiving 5.75 times its original investment in less than three years.