Middle East Economic Survey


No 4



EFG-Hermes Acquires Stake In Bank Audi

As part of its regional expansion Egypts EFG-Hermes Holding has acquired a 20% stake in Lebanons Bank Audi in a deal announced on 5 January and seen as one of the largest direct investments in Lebanons history. At the same time Bank Audi disclosed its plan to raise its capital to $1.5bn through the issue of 10mn shares worth $600mn in two tranches: a first tranche of 7.5mn shares at a price of...