Egypt’s EFG Hermes board approves Credit Libanais stake sale at $33/share
Egypt's EFG Hermes logo
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CAIRO: Egypt’s EFG Hermes said in a statement on Thursday its board of directors had approved the sale of 40 percent of its stake in Credit Libanais for $33 per share.

It said the shares will be sold to Arab and Lebanese investors and is subject to approval from the Lebanese central bank. It also expects the deal to be complete by June 30.

According to its website EFG Hermes says it has a 63.7 percent stake in Credit Libanais.

 

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