Planet Investment Banking raised $650 million in debt and a “lower amount” in equity for its planned offer to take over Egyptian investment bank EFG-Hermes Holding SAE, Chief Executive Officer Ahmed El Houssieny said.
The company is backed by domestic, regional and international investors, including a member of the ruling family of Sharjah, United Arab Emirates, El Houssieny said in a telephone interview today.
“The only thing between us and a public tender offer is due diligence,” he said.
To contact the reporter on this story: Alaa Shahine in Dubai at firstname.lastname@example.org
To contact the editor responsible for this story: Daliah Merzaban at email@example.com