|
|
Article: EGYPT: COMMERCIAL INTERNATIONAL BANK PURCHASES 51% OF HERMES FOR $476 MILLION.(Brief Article)
- Article from:
- IPR Strategic Business Information Database
- Article date:
- August 27, 2001
CopyrightCOPYRIGHT 2001 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
According to Al-Sharq Al-Awsat, sources at the Egypt's Commercial International Bank have revealed that 51 percent of the Hermes financial group was recently purchased by the bank for a total of $476 million. Mahmoud Abdel Aziz, Chairman of the bank, stated that the bank also had a strategic plan to finance major projects in Egypt as well as throughout the Middle East region. In addition, Abdel Aziz maintained that the bank was actively integrating its bond, fund, investment activities and financial management activities, as it served numerous major clients ...