Citadel Capital denies Sale of Sphinx Glass

Big 5

Citadel Capital (CCAP.CA), a leading investment company in Africa and the Middle East, rebutted on Monday the sale of its non-core portfolio company Sphinx Glass.

This comes after Construction Products Holding Co (CPC), a unit of private Saudi Arabian construction giant Saudi Binladin Group, announced earlier on Monday it had bought Egypt’s Sphinx Glass for US$ 190 million.

Earlier this month, Citadel Capital stated that it had received an offer to sell 100% of Sphinx Glass for an equity value of approximately US$ 112 million.