DFG sells stake in EFG-Hermes

DUBAI / EMIRATES BUSINESS

Dubai Financial Group (‘DFG’), a subsidiary of Dubai Group, has sold its 11.8% interest in EFG-Hermes Holding Company S.A E (“EFG”) to Natixis Group (“Natixis”). A European banking leader, Natixis has an extensive international presence with offices in Europe, the Americas, Africa, Asia and Australia. Fadel Al Ali, Chairman, Dubai Group, commented: “The sale of our stake in EFG Hermes is consistent with the business plan for Dubai Group, which was agreed with its lenders as part of the restructuring agreement”.