EFG-Hermes hires HC as Independent Financial Adviser to Look at Tender Offer

Egypt’s EFG-Hermes announced that it hired HC Securities & Investment as an independent financial adviser (IFA) to assess Beltone-Sawiris bid for 20% stake and to assist shareholders evaluate the attractiveness of the bid.

The company added in a press release on Wednesday that the results and board of directors’ opinion will be announced immediately after the completion of the report.

This comes after Egypt’s financial regulator – the Egyptian Financial Supervisory Authority (EFSA) approved the joint bid by Beltone and Billionaire Naguib sawiris for a 20% stake in EFG-Hermes (HRHO.CA).