19 January 2010
CAIRO: Middle East investment bank EFG Hermes said Monday it sold its entire stake in Lebanon's Bank Audi for $913.4 million, significantly boosting its liquidity.
The Cairo-based investment firm said it sold its 7.5 million common shares and 2.5 million global depository receipts in the bank, Lebanon's largest by assets, to a group of investors. It did not identify the buyers.
CAIRO: Middle East investment bank EFG Hermes said Monday it sold its entire stake in Lebanon's Bank Audi for $913.4 million, significantly boosting its liquidity.
The Cairo-based investment firm said it sold its 7.5 million common shares and 2.5 million global depository receipts in the bank, Lebanon's largest by assets, to a group of investors. It did not identify the buyers.
© Arab News 2010
