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Thursday, 15 December 2016

EFSA’s criteria for approving brokerage M&As made official

Criteria for brokerage mergers made official: The Egyptian Financial Supervisory Authority (EFSA) published its criteria announced last week for approving acquisitions of a stake greater than 33% of any brokerage in the Official Gazette, making it officially the law of the land, Al Borsa reports. Under these criteria EFSA will look into concentration risk of in the portfolio of the acquiring entity in a given sector, in addition to past violations of EFSA rules among others. These will be applied to CIB’s sale of 71.94% of CI Capital.

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