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26 Apr 2012 09:23
Clarification on EFG Hermes & QInvest Deal News
Cairo, 26 April 2012:
Reference to news reports stating that EFG Hermes has reached an agreement with QInvest regarding their previously announced potential strategic alliance, EFG Hermes would like to confirm that it is still in negotiations and discussions with QInvest. The Company will disclose relevant information on any developments whether an agreement is reached or not.
The negotiations underway will result in the creation of the largest investment bank in the Arab World,Africa, Turkey, South and South East Asia; with the possibility of QInvest holding majority stake.
EFG Hermes reiterates that the lines of business included within the scope of discussions are Securities Brokerage, Asset Management and Investment Banking. EFG Hermes Private Equity and Crédit Libanais are excluded from the discussions.
Disclaimer:
This release is based on future facts which might carry inherited risk and uncertainties that could be beyond the control of involved parties. Investors are to carefully evaluate their investment decisions.
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