EFG-Hermes Says Still Completing Documents For Official Approvals On QInvest Deal

EFG-Hermes Holding (HRHO.CA), Egypt’s biggest investment bank, asserted that it is still completing the necessary documents and attachments required to obtain official approvals on QInvest takeover deal.  EFG-Hermes denied media reports in regard to imminence of finalizing the deal.

Last June, QInvest had offered to acquire 60% of EFG-Hermes’ major operations in brokerage, research, asset management, investment banking services and infrastructure investment, for US$ 250 million, as well as 60% of infrastructure fund or $60 million.