Arab Investment Bank Merger Fails Without Egypt's Approval

Law360, New York (May 1, 2013, 5:18 PM EDT) -- Arab investment bank EFG Hermes Holding SAE and its Qatari counterpart QInvest on Wednesday dropped their plans to unite as a single entity after Egyptian regulators deflected approval of their plan to form the largest investment banking outfit in the Middle East.

The announcement came after the proposed tie-up’s long-stop deadline passed without a green light from the Egyptian Financial Supervisory Authority, the country’s financial industry watchdog. The agency was the lone holdout after regulators in Qatar, the United Arab Emirates, Saudi Arabia and Jordan signed...
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