Egypt's EFG Hermes finalised talks to sell a 60 percent stake to Qatari QInvest, a deal aimed at merging some of the operations of the Middle East investment banks, independent Shorouk newspaper said on Wednesday.
The merger between the two is intended to create an investment bank covering the Arab world, Africa, Turkey and southeast Asia, the paper said.
"The negotiations began months ago and the deal will be announced in the next 10 days," a source with knowledge of the deal told the paper without giving details of the value of the deal.
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