Egypt's EFG Hermes said on Friday it had sealed an agreement first announced in March to form a region-wide investment bank with Qatar's Qinvest.
Qinvest will control 60 percent of the new bank, which will be called EFG Hermes Qatar, and provide $250 million to increase its capital.
EFG-Hermes will control the remaining 40 percent and have the right to sell its shareholding to QInvest at any time after 12 months but before 36 months from the signing for 1 billion Egyptian pounds ($165.4 million).
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