EFG Hermes eyes start-ups after AIB deal, says CEO

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CAIRO — Egyptian investment bank EFG Hermes Holding is targeting minority stakes in start-ups after its acquisition of a majority stake in state-owned Arab Investment Bank, its chief executive said on Sunday.

The acquisition of the 51% stake will be finalized in the third quarter and will be financed from the bank’s internal resources, CEO Karim Awad told Reuters. (Reporting by Ehab Farouk Writing by Aidan Lewis Editing by David Goodman )

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