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EFG Hermes asked to provide more information before QInvest deal

Egyptian investment bank EFG Hermes says the country's financial regulator is requiring it to provide additional information to shareholders before it signs off on a deal for the lender to combine some operations with Qatar's QInvest, the Associated Press has reported. The firm said it expects to call a shareholder meeting soon to provide investors with information requested by the Egyptian Financial Supervisory Authority. The two companies agreed in May to merge some of their businesses, creating a joint investment bank meant to service the Arab world and beyond. Initially, QInvest is to hold a 60% stake in the new entity.