EFG Hermes expects more private sector M&A deals in Saudi in 2019

05/03/2019 Argaam

 

Egypt's EFG Hermes is working on a $500 million merger and acquisition (M&A) in Saudi Arabia and expects more deals to come out of the Kingdom in 2019, especially from the private sector, Reuters reported citing its head of investment banking.

 

"Saudi I think will be very busy," Mohammed Fahmi said on the sidelines of the bank's investment conference in Dubai taking place this week.

 

"I'm seeing a lot of request for proposals (RFPs) coming from Saudi for IPOs... Private sector companies looking to go public, which I think is a valuable thing," he added.

 

The bank is also advising on an initial public offering (IPO) in Saudi Arabia, Fahmi said, but would not give any more details.

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