Last checked at 19 May 2014 09:24
ANNOUNCEMENT
Cairo, May 19th, 2014: EFG Hermes Holding S.A.E. ("EFG Hermes"), the Arab world's leading investment bank, is pleased to announce that it has entered into discussions aiming to reach agreement with Sarwa Capital on a potential strategic alliance between the two groups. Sarwa Capital is a pioneering financing firm in retail, corporate, structured and securitization finance.
This potential alliance comes as part of EFG Hermes's new strategy to expand its core business and tap into growth areas such as financing, in addition to expanding its debt capital markets capabilities.
Any deal closing will be subject to completion of a satisfactory process, board approvals, and any customary regulatory approvals. Accordingly, the final outcome of these discussions is still uncertain at this stage and further disclosures will be made if and when final terms are reached.
About Sarwa Capital: Sarwa Capital, through its subsidiaries, is a pioneer in retail, corporate, structured and securitization finance. Sarwa has arranged consumer financing of over EGP 5.5 billion and has been the largest issuer of securitization bonds in the Egyptian market, having arranged issues totaling over EGP 4 billion since 2005.
For further information:
Investor Relations Contacts
Tel: +20 (0)2 35356710
Fax: +20 (0)2 3535 7017
Email: investor-relations@efg-hermes.com
www.efg-hermes.com