25.01.2013 - EFG-Hermes says QInvest takeover delayed by regulators
EFG-Hermes Holding SAE (HRHO), 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. QInvest, a unit of Qatar Islamic Bank (QIBK), and EFG-Hermes plan to create an investment bank with operations in the Middle East, Africa and Turkey, as well as southern and southeastern Asia. “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. The deal, announced in March, was expected to be concluded in November...............................................Full Article: Source
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