GB Auto, EFG-Hermes to Buy 75% Stake in Tokio Marine Egypt

Posted December 23, 2019

EFG Hermes and GB Auto, through units, will buy 37.5% stake each in life insurance firm Tokio Marine Egypt Family Takaful in deal worth 84.75m Egyptian pounds ($5.3m), the companies say in a statement.

* Tokio Marine Egypt owned by Japan-based Tokio Marine Group;
* Deal subject to regulatory approval. Source: Bloomberg

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