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DFG buys into EFG-Hermes
- Egypt: Tuesday, November 20 - 2007 at 07:30
The Dubai Financial Group (DFG), a part of Dubai Holding, and Abraaj Capital have agreed a deal in which the DFG will acquire 100% of Abraaj Egypt and Abraaj SPV 26 for about $1.1bn. Abraaj Egypt and Abraaj SPV 26 collectively own a 24.6% stake in the Cairo based investment bank EFG-Hermes, which has a market capitalisation in excess of $4bn. The DFG now becomes the bank's largest single shareholder.
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Jonathan Sheikh-Miller, Deputy EditorTuesday, November 20 - 2007 at 07:30 UAE local time (GMT+4)
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