Egypt’s financial industry has gone through a lot of changes in the past few decades. One of its biggest players is EFG Hermes, which has been providing investment banking services since 1984.
However, many people are still unsure about who owns this company. In this article, we will explore the ownership structure of EFG Hermes Egypt.
History of EFG Hermes
EFG Hermes was established in 1984 as a joint venture between Banque Misr and Hermes Financial Group. It quickly became one of the leading investment banks in the Middle East and North Africa (MENA) region. Over the years, it expanded its services to include securities brokerage, asset management, private equity, and research.
EFG Hermes Ownership Structure
Today, EFG Hermes is primarily owned by New Egypt Investment Fund (NEIF), which holds around 65% of its shares. NEIF is a private equity fund that was established by EFG Hermes and other investors in 2015 with the aim of investing in Egypt’s economy.
The remaining shares are held by several other entities, including Banque Misr (11%), the National Bank of Egypt (5%), and various institutional investors (19%). The company’s management team also holds a small stake in the company.
New Egypt Investment Fund
As mentioned earlier, NEIF is the largest shareholder in EFG Hermes. It was established with a capital of EGP 5 billion ($282 million) and has invested in various sectors such as energy, healthcare, education, and consumer goods.
NEIF’s shareholders include some of Egypt’s most prominent businessmen and institutions such as Naguib Sawiris’ Ora Developers, Beltone Financial Holding, Qalaa Holdings (formerly Citadel Capital), and Abu Dhabi Financial Group.
Other Shareholders
Apart from NEIF, there are several other shareholders in EFG Hermes. Banque Misr, which was one of the founders of the company, still holds a significant stake in it. The National Bank of Egypt is also a shareholder, albeit with a smaller stake.
In addition to these banks, there are several institutional investors that hold shares in EFG Hermes. These include Franklin Templeton Investments, Standard Life Aberdeen, and BlackRock.
Conclusion
EFG Hermes Egypt is primarily owned by New Egypt Investment Fund, which is backed by some of Egypt’s most prominent businessmen and institutions. Banque Misr and the National Bank of Egypt are also shareholders in the company. The ownership structure reflects the confidence that these investors have in EFG Hermes’ ability to continue being a leading player in Egypt’s financial industry and beyond.
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