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Birthday : 02/16/1936
Place of birth : New York (New York) - USA
Biography : Mr. Carl C. Icahn is Chairman at CVR Refining GP LLC, Chairman at CVR Refining LP, Chairman at CVR E
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EFG Hermes SAE : considers expansion deals in Gulf markets

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05/27/2017 | 09:13pm CEST

EFG Hermes, the Egyptian listed regional investment bank, is considering expanding in the Gulf regions through managing new mergers and initial public offerings (IPOs) in order to consolidate its core business, according to bank co-head Mohamed Fahmi.

In a press conference held in Dubai on Thursday, Fahmi said that his bank targets to manage about six mergers and acquisitions (M&As) in the United Arab Emirates (UAE) markets, along with helping some Saudi companies to go public in the new parallel market Nomu.

Fahmi said that the new operations include four to six M&As, as well as two IPOs, between the fourth quarter of 2017 and the first quarter of 2018 in UAE markets.

“The M&A deals include one deal in the healthcare sector—pending final approvals to be announced soon—another one in consumer commodities, and one in the food sector,” Fahmi added.

Meanwhile, Fahmi revealed that his company is currently interested in the Saudi Nomu parallel market.

“We are currently in negotiations with some Saudi companies to be listed on the market to provide new investment opportunities for all firms, including small and medium enterprises (SMEs),” he said.

To attract listings by smaller and family-run Saudi firms, Saudi Arabia launched a parallel market called Nomu in February with streamlined listing rules and disclosure requirements. Seven firms are currently listed on Nomu.

(c) 2017 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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