EFG-Hermes Holdings SAE(LON: EFGD) has announced that its wholly-owned subsidiary, EFG Finance Holding, along with GB Capital, a wholly-owned subsidiary of GB Auto has entered into a definitive sale and purchase agreement (SPA) to acquire 75 per cent stake in insurance player "Tokio Marine Egypt Family Takaful".
- The insurance company to be acquired is a wholly owned subsidiary of Japan-based Tokio Marine Group.
- The deal is for a consideration EGP84.75 million and under the agreement, EFG Hermes Finance and GB Capital would each own 37.5 per cent of the company. The deal is subject to regulatory approvals.
- On 23rd December 2019, at the time of writing, GMT 08:06 AM, EFGD shares were trading at USD 2.10, down by 0.10 points or 4.77% against the previous day closing price.
With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities.
Amidst this, are you getting worried about these falling interest rates and wondering where to put your money?
Well! Team Kalkine has a solution for you. You still can earn a relatively stable income by putting money in the dividend-paying stocks.
We think it is the perfect time when you should start accumulating selective dividend stocks to beat the low-interest rates, while we provide a tailored offering in view of valuable stock opportunities and any dividend cut backs to be considered amid scenarios including a prolonged market meltdown.