{"id":324669,"date":"2022-02-21T15:14:38","date_gmt":"2022-02-21T15:14:38","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324669"},"modified":"2022-02-22T07:17:45","modified_gmt":"2022-02-22T07:17:45","slug":"efg-hermes-appoints-goldman-sachs-as-financial-advisor-for-fabs-acquisition-offer","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/02\/21\/efg-hermes-appoints-goldman-sachs-as-financial-advisor-for-fabs-acquisition-offer\/","title":{"rendered":"EFG Hermes appoints Goldman Sachs as financial advisor for FAB&#8217;s acquisition offer"},"content":{"rendered":"<p>The board of\u00a0Egyptian Financial Group Hermes Holding\u00a0(EFG Hermes) has appointed a\u00a0financial advisor and\u00a0legal counsel for\u00a0First Abu Dhabi Bank&#8217;s\u00a0(FAB)\u00a0non-binding initial offer to\u00a0acquire a majority stake in the company.<\/p>\n<p>EFG Hermes has selected Goldman Sachs International as financial advisor and White &amp; Case as legal counsel to advise the board on the offer, according to a bourse filing.<\/p>\n<p>The\u00a0board has agreed on allowing the bank to conduct due diligence on the company as agreed between the two parties.<\/p>\n<p>Meanwhile,\u00a0EFG Hermes will appoint\u00a0an independent financial advisor to prepare a report on the company&#8217;s valuation upon receiving\u00a0a mandatory tender offer from FAB.<\/p>\n<p>It is noteworthy to mention that in early February 2022, FAB submitted\u00a0a non-binding initial offer to\u00a0EFG\u00a0to acquire at least 51% of\u00a0the company&#8217;s issued capital\u00a0at an estimated price of EGP 19 per share.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The board of\u00a0Egyptian Financial Group Hermes Holding\u00a0(EFG Hermes) has appointed a\u00a0financial advisor and\u00a0legal counsel for\u00a0First Abu Dhabi Bank&#8217;s\u00a0(FAB)\u00a0non-binding initial offer to\u00a0acquire a majority stake in the company.<\/p>\n","protected":false},"author":4,"featured_media":320654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[],"class_list":["post-324669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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