Wednesday 22 October 2014
 
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EFG-Hermes

EFG Hermes bid in doubt as holders baulk at price

Billionaire Naguib Sawiris' second bid for a stake in Egypt's biggest investment bank EFG Hermes hung in the balance as shareholders agreed to sell just under half of the shares sought. Sawiris' New Egypt Investment Fu

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EFG Hermes Q1 profit nearly triples

EFG Hermes, a leading investment bank in the Arab world, has reported a nearly three-fold year-on-year rise in the group net profit after tax and minority interest to EGP119 million on total group operating revenues of EGP 563 million ($16.7 mil

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EFG-Hermes plunges to $48m net loss

Egyptian bank EFG-Hermes plunged to a net loss of $48 million last year, hit by one-off charges including a writedown in the value of certain investments. The bank, active both in investment and commercial banking, said yesterday

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EFG-Hermes sells Damas stake to Mannai

Egyptian investment bank EFG-Hermes has agreed to sell its 19 percent stake in United Arab Emirates jeweller Damas to Qatar's Mannai Corp for $150 million, a source familiar with the deal said on Wednesday. Mannai and EFG-Herm

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EFG-Hermes swings to Q4 net loss

EFG-Hermes, Egypt's biggest investment bank, has reported a net loss of EGP 21 million ($3.08 million) for the fourth quarter compared to a EGP31 million profit in the same quarter a year earlier. The bank said one-off expense

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QInvest-EFG Hermes deal tests new Egypt

(The author is a Reuters Breakingviews columnist. The opinions expressed are her own) QInvest's bid to carve up EFG Hermes is a test for the new Egypt. Ten months have passed and the Qatari firm is still waiting for regulators

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Green light for EFG-Hermes, QInvest deal

  Egypt's regulator has no objections to the deal between EFG-Hermes and QInvest of Qatar to create an investment bank, the Egyptian investment bank said on Monday, giving a green light for the tie-up to go ahead.

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Investors make new offer to buy EFG-Hermes

A group of investors called Planet IB that has launched a bid to buy out EFG-Hermes said on Saturday it intended to offer 13.50 Egyptian pounds ($2.23) per share for the Egyptian investment bank. Shares in the bank closed at 10.99 pounds o

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Hermes trading resumes after statement on CEO

Egypt's stock exchange briefly suspended trade in EFG-Hermes shares on Tuesday but resumed dealing after the investment bank issued details about its chief executive Yasser El Mallawany, who faces a travel ban. The shares were trading dow

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EFG stocks drop after CEO travel ban

Shares in EFG-Hermes, Egypt's biggest investment bank, plunged 5.7 per cent at the opening of the market on Monday and trading was suspended after its chief executive Yasser el Mallawany was banned from leaving Egypt. Egyptian airport

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