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Beltone, Sawiris say EFG Hermes offer is ‘fair’

: Monday, June 30 - 2014 @ 05:47

Egypt’s Beltone Financial and billionaire Naguib Sawiris’ New Egypt Investment Fund have said they would not change their offer to buy 20% of EFG Hermes investment bank at EGP16 ($2.24) per share, Reuters has reported. The two firms are offering around $257m for the EFG stake in a bid that could help revive dealmaking in Egyptian equities after three years of stagnation following the overthrow of Honsi Mubarak in 2011. “We see the offered price per share as a fair price,” the two companies said.

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Monday, June 30- 2014 @ 5:47 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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