Ethmar International Holding and EFG Hermes conclude strategic partnership agreement

With a footprint spanning over 14 countries across four continents around the world, EFG Hermes boasts a service network covering 75 of the fastest evolving and most attractive markets around the world

Ethmar International Holding (EIH) has signed a strategic partnership agreement with EFG Hermes, as part of the preparations for listing EIH as a joint stock company in the UAE stock market.

The partnership agreement, whereby EFG Hermes will act as a strategic partner during the private offering process, represents a new milestone in the track record and achievements of the two companies, and contributes to the expansion of local markets and the growth and development of the UAE economy, in line with country's leadership's vision to create a clear path for sustainable economic growth.

On this occasion, Ali El Gebely, managing director and CEO of Ethmar International Holding (EAH), said: "Ethmar International Holding, a leading company in the Middle East, seeks to build real value for the future of investment through strategic partnerships and to develop a diversified, innovative and sustainable investment portfolio.The UAE economy serves is a key hub for the financial markets' activities in the Middle East, and this clearly reflected in the great economic boom in the country." He also stressed that the high resilience that UAE economy has demonstrated in the face of the ongoing global challenges has attracted many investors from all over the world to establish their businesses and invest in this fast-growing emerging market. He also praised EFG Hermes broad experience in the financial markets, and in providing high-quality services in line with the highest international standards.

For his part, Moustafa El Chiati, CEO at EFG Hermes, said: "We are delighted to have such investment opportunities, as we always seek such partnerships for the benefit of the investors in the company. EFG Hermes provides safe opportunities for the build-up of wealth and savings, by identifying and capturing attractive investment opportunities around the world, as well as by providing asset management services, brokerage in securities, direct investment, promotion services and underwriting coverage, supported by a high-quality research ecosystem. We are confident that our strategic investment in Ethmar International Holding will serve the interests of the company's investors."

Holding many companies in various commercial and industrial sectors, including energy, technology and real estate development, the Abu Dhabi-based Ethmar Holding Group focuses on encouraging and developing diversified businesses across a wide range of key sectors at the local and international levels, in pursuit of sustainable returns that ensure strong and continuous growth for the group.

EFG Hermes is the premier financial services corporation in frontier emerging markets and the leading investment bank across the MENA region. With a footprint spanning over 14 countries across four continents around the world, EFG Hermes boasts a service network covering 75 of the fastest evolving and most attractive markets around the world.

• KT Network