Investment Banking
Sovereign wealth
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Egypt's EFG Hermes to acquire control of state-owned Arab Investment Bank
EFG Hermes Holding, Egypt's biggest investment bank, will acquire 51% of state-owned Arab Investment Bank, the Cabinet said in a statement on Wednesday, in the first bank privatisation in more than a decade. The Sovereign Fund of Egypt will also acquire a 25% stake in AIB, while the current owner,…
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Click here to read the full story: Reuters