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EFG-Hermes targets maize firm
- Egypt: Monday, December 31 - 2007 at 14:39
An investment fund run by Egyptian lender EFG-Hermes is hoping to acquire around 31.6% of the National Company for Maize Products, in a deal worth $31.5m, reported Reuters. A price of 25 Egyptian pounds has been offered by the Horus III Fund and this is substantially higher than the last traded price of 9.6 Egyptian pounds. The National Bank of Development would sell most of the stake to EFG-Hermes.
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Jonathan Sheikh-Miller, Deputy EditorMonday, December 31 - 2007 at 14:39 UAE local time (GMT+4)
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