EFG-Hermes in Talks with Thawra Capital to Form Strategic Coalition

Big 5

Egypt’s biggest investment bank, EFG-Hermes (HRHO.CA) announced on Monday that it is currently in talks with Tharwa capital to form a strategic coalition between the two companies.

The company said that this coalition comes in accordance with the company’s adopted strategy which aims at expanding

operations and participating in activities like financing and strengthening the company’s advisory services for companies.

The success of those negotiations depends on finishing the financial and legal audit done by EFG-Hermes and getting the approvals of boards of directors and different regulators.

The company added that the final results of those talks are still not clear and that it will announce in case a deal is reached.

EFG-Hermes added in a statement to the stock exchange that Tharwa capital is leading company in retail, corporate finance, finance restructuring, and Securitization.