Middle East Economic Survey

VOL. LIII

No 35

30-Aug-2010

LEBANON

EFG Hermes Acquires 65% Interest In Credit Libanais

EFG Hermes Holdingannounced on 17 August that it has agreed with majority shareholders to acquire a 65% interest in theshare capital of Beirut-based Credit Libanaisand a call option over an additional 25% interest. EFG Hermes will pay a cash consideration of $542mn for the 65% interest. The call option over the additional 25% will be exercisable over the next two years at the sole...