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EFG Hermes acquires 100% stake in Tanmeyah

EFG Hermes acquires 100% stake in Tanmeyah

ArabFinance: Egyptian Financial Group Hermes Holding (EFG Hermes) (HRHO) acquired the entire share of individual shareholders in the ownership structure of Tanmeyah, Al Mal News reported.

The company bought a total of 317,000 shares, representing 6.5% of Tanmeyah’s stake, for EGP 415 million.

Accordingly, EFG Hermes raised its ownership in Tanmeyah to 100%.

It is worth noting that EFG Hermes posted a consolidated net profit before minority interest of EGP 698.056 million in half one (H1) 2021.

The listed company has a presence in the United Arab Emirates, Saudi Arabia, Kuwait, Jordan, Oman, and Pakistan. It operates in holding and treasury, brokerage, asset management, investment banking, private equity, leasing, microfinance, and assets held for sale.

 

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