Deals
EFG-Hermes Takeover Mired in Delays as May Deadline Nears
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The takeover of EFG-Hermes Holding SAE, Egypt’s biggest investment bank, by Qatar’s QInvest LLC is mired in delays almost a year after the transaction was agreed.
The deal is set to expire on May 4 unless it receives a so-called no objection from Egypt’s regulator on the transfer of its assets to Qatar, Hanzada Nessim, investor-relations manager at Cairo-based EFG-Hermes, said yesterday by telephone. The regulator hasn’t given a date for a decision.