Dubai Financial Group is acquiring a 25 per cent stake in Egyptian investment bank EFG-Hermes for $1.1bn.
Dubai Financial is buying the stake from Dubai-based private equity firm Abraaj Capital. The deal makes Dubai Financial the largest shareholder in EFG-Hermes.
Abraaj had bought its shareholding in mid-2006 for $505m.
Dubai Financial is the financial investment arm of Dubai Holding and owns stakes in Greece’s Marfin Popular Bank, Bahrain’s Taib Bank, BankMuscat, Kuwait’s Global Investment House and Dubai Bank.
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
