EFG-Hermes Says QInvest Takeover Delayed by Regulators

EFG-Hermes Holding SAE, Egypt’s biggest investment bank, said its sale to Qatar’s QInvest LLC has been delayed as regulators in the Middle East scrutinize the takeover.

“It is mainly because of regulatory approvals that the conclusion of the deal is taking longer than expected,” Hanzada Nessim, investor-relations manager at Cairo-based EFG-Hermes, said by phone yesterday. The deal, announced in March, was expected to be concluded in November.