REG - EFG-Hermes Holdings - Receives a Non-Binding Offer from Abu Dhabi Bank

EFG Holding SAEAnnouncement

09/02/2022 08:45

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RNS Number : 1485B  EFG-Hermes Holdings SAE  09 February 2022

 

 

 

 

EFG Hermes Receives a Non-Binding Offer from First Abu Dhabi Bank

 

 

 

 

Cairo, February 9(th), 2022: EFG Hermes Holding S.A.E.(EFG Hermes or the
"Company") announces that it has received today a non-binding offer from First
Abu Dhabi Bank (FAB), UAE's leading and largest bank, for a potential cash
acquisition of a majority stake, of not less than 51% of the issued shares of
the Company at an indicative purchase price of EGP19 per share. The completion
of the transaction and the final purchase price is conditional upon the
completion of a satisfactory comprehensive due diligence on the Company, and
the receipt of the required regulatory approvals; upon which a mandatory
tender offer will be made to all shareholders of the Company, in accordance
with Law 95 of 1992 and its executive regulations.

The offer stresses on the outstanding reputation of EFG Hermes in regional and
international markets and recognizes its strong management team, high
standards of corporate governance, and strong brand equity. The offer also
views the employees of the Company as a vital component of the organization's
ability to compete and succeed.

The offer has been shared with the Board of Directors and will be discussed as
soon as practical. Disclosures will be made in due course; and it is advisable
that minority shareholders exercise due care and caution.

 

 

 

 

For further information:

Investor Relations Department

Email: investor-relations@efg-hermes.com

Tel: +20 (0)2 35356710

Fax: +20 (0)2 3535 7017

 

Head of Investor Relations - Hanzada Nessim

Email: hnessim@efg-hermes.com

Tel: +20 (0)2 35356502

Fax: +20(0)2 3535 7017

www.efg-hermes.com

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