EFG-Hermes Rejects $1.1 Billion Bid in Favor of VentureAlaa Shahine and Ahmed A Namatalla
EFG-Hermes Holding SAE, the biggest publicly traded Arab investment bank, rejected a 6.5 billion-Egyptian pound ($1.1 billion) bid from a group backed by billionaire Naguib Sawiris in favor of setting up a venture with Qatar’s QInvest LLC.
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