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Announced

First Abu Dhabi Bank to acquire a majority stake in EFG Hermes for $560m.

Synopsis

First Abu Dhabi Bank, an United Arab Emirates-based bank, agreed to acquire a majority stake in EFG Hermes, an Egyptian financial services company, for $560m The deal would give the UAE's biggest lender access to the Egyptian investment bank's strong franchise in the Middle East and North Africa region.

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