Mona Zulficar: Planet Deal Is Not Serious … EFG-Hermes CEOs Are Innocent

Mona Zulficar, EFG-Hermes’ Board of Directors Chairperson, has asserted that Planet IB’s announcement of a buyout deal to seize 100% of EFG-Hermes (HRHO.CA) stakes was not serious and it did not follow the appropriate legal procedures.

“Planet IB’s buyout deal has come quite late as EFG-Hermes group had already signed the strategic alliance with QInvest.” Zulficar said during an interview with CNBC Arabic

“The offered price Planet has set for the buyout deal is unfair.”

Elsewhere, Zulficar said EFG-Hermes Group trusts in their CEOs Yasser El Mallawany and Hassan Heikal’s innocence against charges of graft in selling Al Watany Bank of Egypt (AWB).

Zulficar also emphasized on the absence of any apparent suspicions of making unlawful profits through the trading of shares in the AWB.