Egypt’s EFG Hermes says completes Credit Libanais stake sale

Egypt’s EFG Hermes has completed the sale of a 40 percent stake worth $310 million in Credit Libanais after obtaining board approval, the company announced in a bourse statement on Wednesday.

EFG Hermes’s board in March agreed to sell a 40 percent stake in Credit Libanais to Arab and Lebanese investors at $33 per share, along with plans to sell its remaining shares by May next year.

Source: Reuters