EFG to sell QInvest joint venture stake next year, Arqaam says

According to Arqaam Capital Ltd, EFG-Hermes Holding SAE plans to sell its 40% stake in 2013 in the investment bank it is forming with QInvest. Thus, it will turn into a holding company. EFG-Hermes' assets will be held in Lebanese unit Credit Libanais SAL and in a private equity unit managing $980 million (Dh3.6 billion).

Read more on: http://gulfnews.com/business/markets/efg-to-sell-qinvest-joint-venture-s...

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