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Egypt’s valU announced reaching an agreement with Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair and Abdulmajid Abdulaziz Alhokair for their collective acquisition of 4.99% of the EFG Hermes subsidiary for $12.4 million (SAR 46.5 million).

 

In a statement picked up by Argaam, valU added that, under the deal, the company is valued at $247.4 million (SAR 927.75 million).

 

 

On June 5, FAS Labs, equally owned by Arabian Centres Co. and Fawaz Abdulaziz Alhokair Co., signed an agreement with valU, to sell its 35% stake in FAS Finance to valU, Argaam earlier reported.

 

For More Mergers and Acquisitions

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