The Egyptian Financial Supervisory Authority (EFSA) has approved the offer submitted by Sawiris-Beltone alliance to acquire 20% of EFG-Hermes at EGP 16 per share, said EFSA Chairman Shreif Samy.

Samy said the bidders stipulate that they shall fully acquire the stake in order to complete the deal.

He added that the OPR market will open for ten days from the date of publishing the buy offer in the newspapers.