No. 02



Citigroup To Purchase 20% Stake In EFG-Hermes

Cairo-based EFG-Hermes has announced the sale of a 20% stake in EFG-Hermes Holdings to Citigroup. A source at EFG-Hermes said the bank will sell the stake both through the secondary market and through a capital increase. "Citigroup has signed a contract to buy 20% of EFG-Hermes Holdings 15% of that will be through a capital increase and 5% will be from the market." The source also told MEES that Citigroup will...