EFG-Hermes Holding SAE
EFG-Hermes Says QInvest Takeover Delayed by Regulators
Fri, 2013-01-25 08:45 — newsdeskEFG-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.
QInvest Said to Cut Jobs at Brokerage, Asset Management
Mon, 2012-10-15 08:27 — newsdeskQInvest LLC, which is forming a joint venture with Egyptian EFG-Hermes Holding SAE, issaid to be cutting jobs at its brokerage and asset management divisions. 13 people will have to leave. The reductions, however, have not been made public yet. In the joint venture, QInvest LLC plans to take 60% of the new entity while EFG-Hermes Holding SAE receives the remaining 40%.
Read more on: http://www.bloomberg.com/news/2012-10-10/qinvest-said-to-cut-jobs-at-bro...
EFG to sell QInvest joint venture stake next year, Arqaam says
Fri, 2012-10-12 10:28 — newsdeskAccording to Arqaam Capital Ltd, EFG-Hermes Holding SAE plans to sell its 40% stake in 2013 in the investment bank it is forming with QInvest. Thus, it will turn into a holding company. EFG-Hermes' assets will be held in Lebanese unit Credit Libanais SAL and in a private equity unit managing $980 million (Dh3.6 billion).
Read more on: http://gulfnews.com/business/markets/efg-to-sell-qinvest-joint-venture-s...
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