CAIRO, March 9 (Reuters) - Egypt's central bank has sent investment banks a request for proposals to pitch for an advisory role in the sale of United Bank of Egypt, which the central bank owns, two sources with knowledge of the matter said.
Several big Western banks have received the request, one of the sources said. The search for advisors comes after talks with Saudi Arabia's sovereign wealth fund to acquire United Bank failed after disagreement over its valuation.
Egypt is seeking to raise cash after its financial markets were hit by heavy foreign investment outflows in the wake of the Ukraine war, throwing the economy into crisis. In December, it signed a $3 billion support package with the International Monetary Fund.
United Bank is one of three banks the government placed on a list last month for potential sale, along with Arab African International Bank and Banque du Caire (BQDC.CA), as it tries to resolve a severe foreign currency shortage.
The government said it planned to sell stakes in 32 companies, but since then has placed stakes in other companies up for sale as well.
The finance ministry said last month it was seeking to sell the 20% stake in AlexBank that it still owns. Italy's Intesa Sanpaolo (ISP.MI) bought the other 80% in 2005.
Analysts say a stake in the state-controlled House and Development Bank may also be up for sale.
