Reuters: Financial Services and Real Estate: Investors offer 13.50 EGP/share to buy EFG-Hermes

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Investors offer 13.50 EGP/share to buy EFG-Hermes Jun 2nd 2012, 16:04 CAIRO, June 2 | Sat Jun 2, 2012 12:04pm EDT CAIRO, June 2 (Reuters) - A group of investors called Planet IB that has launched a bid to buy out EFG-Hermes said on Saturday it intended to offer 13.50 Egyptian pounds ($2.23) per share for the Egyptian investment bank. Shares in the bank closed at 10.99 pounds on Thursday, the last day of Egypt's trading week. "If EFG-Hermes is serious about entertaining a tender offer from Planet IB, it must immediately postpone the execution of the alternative transaction," it said in a statement, referring to a plan to form a joint venture with Qatar's QInvest. (Writing by Edmund Blair; Editing by Robin Pomeroy)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions