EFG Hermes eyes start-ups after AIB deal, says CEO

FILE PHOTO: The building of EFG-Hermes, also known as Egyptian Financial Group Hermes Holding Co SAE, is seen at the Smart Village in the outskirts of Cairo, Egypt, October 27, 2015. REUTERS/Asmaa Waguih

CAIRO (Reuters) – Egyptian investment bank EFG Hermes Holding is targeting minority stakes in start-ups after its acquisition of a majority stake in state-owned Arab Investment Bank, its chief executive said on Sunday.

The acquisition of the 51% stake will be finalised in the third quarter and will be financed from the bank’s internal resources, CEO Karim Awad told Reuters.

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