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EFG-Hermes Says QInvest Takeover Delayed by Regulators

Fri, 2013-01-25 08:45 — newsdesk

EFG-Hermes Holding SAE (HRHO) said its sale to Qatar’s QInvest LLC has been delayed because of regulatory approvals. This is because the Egyptian Financial Supervisory Authority hasn’t yet approved the transfer of EFG-Hermes’ Egyptian assets to the new, Qatari-based entity. QInvest will invest $250 million in the venture, with the option to buy total ownership.

Source: 

http://www.bloomberg.com/news/2013-01-23/efg-hermes-says-qinvest-takeove...