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Tuesday, 4 December 2018

EFG Hermes has four M&A transactions, two IPOs in pipeline

M&A WATCH- EFG Hermes has four M&A in its pipeline for execution in 1H2019 and will expand its debt capital markets activities in the new year, Co-Head of Investment Banking Mostafa Gad tells Reuters. Gad suggested that one of the M&A transactions is in the Saudi healthcare sector.

EFG is working on two equity raisings “in the coming months” in the F&B and manufacturing sectors, Gad added. Meanwhile the IPO of construction company Hassan Allam and the sale of another stake of state-owned Eastern Tobacco both remain on hold until market conditions improve, he added. The government had decided in October to suspend the sale of an additional 4.5% stake in the Eastern Tobacco Company indefinitely, after its price plunged 11.5% in one week amid the emerging markets zombie apocalypse.

EFG is also looking to expand its “activity in arranging and restructuring debt in 2019 and … will expand securitisation starting with our own financial leasing portfolio and the market in general,” Gad said.

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