EFG-Hermes Holding

EFG-Hermes Takeover by QInvest Mired in Delays as Deadline Nears

The takeover of EFG-Hermes Holding SAE (HRHO), 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. The terms of the deal include a four Egyptian pound per share dividend once it is complete. However, EFG-Hermes’s co-chief executives are defendents on charges of illicit gains. Therefore, it is expected that the deal will not go through before the lawsuit is finalized.

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