British bank HSBC has acquired a stake of at least 5 percent in EFG Hermes, the Middle East's biggest home-grown investment bank, Egypt's stock exchange said on Tuesday.
Business at Cairo-based EFG was hit when a popular uprising ousted Egypt's president last year, throwing the country's economy into turmoil from which it has yet to recover.
EFG is folding its main investment banking business into a new joint venture with Qatar's QInvest, giving it more resources to expand operations across the region.
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