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Sunday, 10 July 2016

EFG Hermes sells 4.1% stake in Credit Libanais

EFG Hermes sold a 4.1% stake of Credit Libanais for USD 33 per share, Al Mal reported citing a bourse statement. This followed the sale of a 40% stake in June and after EFG Hermes’ board tasked Credit Libanais with marketing the remainder of its holdings in the bank. Al Mal estimates that EFG still retains a 19.5% after the sale.

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