Investment bank EFG-Hermes Holding announced, in a statement to the stock market on Tuesday, that it has finalized on Monday the deal of acquiring a 49% stake in EDPR France.
Thus, the value of total assets managed by EFG’s direct investment unit rose by 33% to $0.8 billion.
EFG has announced in October that its private equity arm has signed a $ 208 million deal to acquire a 49% equity shareholding and outstanding shareholders loans in wind energy company EDPR France.
According to the company’s release, the transaction is part of its strategy of broadening its traditional role as a catalyst for institutional capital into MENA markets by helping its partners and investors tap compelling global opportunities.
Seif Fikry, chief executive officer, EFG-Hermes UAE said, in an interview with Mubasher Sunday that the group is currently considering the management of four new investment operations in the UAE markets.
These operations comprise two initial public offerings and two in the mergers and acquisitions activities, according to the top official.
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