The Egyptian Financial Supervisory Authority (EFSA) announced on Thursday it received a voluntary tender offer for 20% of EFG-Hermes Holding from New Egypt Investment Fund BV, Beltone Financial Holding and Beltone Capital Holding.
According to the market regulator, the offer was made at a price of EGP 16 per local share or GDR, totaling EGP 1.8 billion.
New Egypt Investment Fund BV offered to buy 17.82% in EFG, while Beltone Financial and Beltone Capital made bids for 1.09% and 1.09% stakes.