EFG-Hermes Targets Gulf Banking Deals as Egypt Falters - Bloomberg

EFG-Hermes Targets Gulf Banking Deals as Egypt Falters - Bloomberg:

"EFG-Hermes Holding SAE, the Egyptian investment bank whose merger with Qatar’s Qinvest LLC collapsed in May, said it’s seeking deals in the Persian Gulf as political turmoil at home discourages foreign investors.
The Cairo-based bank is advising Dubai Group LLC on the $164 million sale of Dubai First to First Gulf Bank and Al-Futtaim Group on the $90 million acquisition of CMC in Kenya, Karim Awad, chief executive officer of the investment bank at EFG-Hermes, said in an e-mailed response to questions. It also worked on the listing of BLME Holdings PLC (BLME) on Nasdaq Dubai. (DPW)
The Arab world’s most populous country, which has yet to hold presidential and legislative elections following the ouster of former President Mohamed Mursi, has experienced its worst economic slowdown in two years amid the political upheaval. That comes as Gulf countries such as Saudi Arabia, the U.A.E. and Qatar report accelerating growth."

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