EFG-Hermes is Selling Its Shares in Credit Libanais

The delegation assigned to Credit Libanais’s Chairman, Joseph Torbey, to sell EFG-Hermes’s 63.74% stake in the bank expires at the end of February. The chairman was seeking investors to acquire the stake valued at a range of $470M-$500M. Meanwhile the offers of Cedrus Invest Bank and Saradar Group remained standing.

EFG-Hermes, the biggest publicly traded investment bank in the Arab world, acquired its stake in Credit Libanais in 2010 for $542M.

Credit Libanais Shareholders

EFG-Hermes 63.74%
CIH Bahrain International Holding 23.52%
Individual Shareholders 12.74%

Source: Bank Website

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