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Sovereign Fund of Egypt

EFG completes aiBank acquisition to become Egyptian Universal Bank

EFG Hermes will be taking control over aiBank in partnership with the Financial Services & Fintech sub-fund, a sub-fund owned by the Sovereign Fund of Egypt (TSFE)

Cabinet approves of Sovereign Fund/EFG Hermes acquisition of AIB

The acquisition of 76 percent of AIB will increase the paid-in capital of the bank to LE 5 billion