Business hub – cairo
Amazon has signed an agreement with the Hermes Holding Group, Acquiring the Group’s GDRs for $10 million, With the option to replace this investment in the future with a share of 4.25% of “Value” shares of Hermes, which has a fair value of about $235 million., This is according to a press release issued today.
Hermes is the largest investment bank in the Middle East. It operates in the markets of Egypt, Saudi Arabia, the Emirates, Kuwait, and Jordan. Sultanate of Oman, Pakistan, Bangladesh, Kenya, and the United States.
Hermes said that the option available to “Amazon” will be exercisable in the form of an independent investment that includes third-party investors. or sell, or an initial public offering or other listing event, Based on the terms and conditions of the transaction agreement.
Value company’s revenues amounted to 2.4 billion pounds (a dollar is equivalent to 18.35 pounds) in 2021, and it targets about 5 billion pounds this year. The company also carried out about 495,000 financing transactions. This year, it targets one million consumer financing operations.
Presented by “Hermes”, leasing, financing and factoring activities, microfinance, consumer finance, real estate finance, insurance, and digital payments through its subsidiaries.