After proceeding with discussions and assessing potential synergies, a framework of a joint venture and implementation timelines will be worked, in case an agreement is reached that is subject to regulatory approvals.
QInvest said the firm looks forward to establishing a potential alliance with EFG Hermes that would position our firms to leverage continuing economic growth and play a pivotal role in the long-term development of the region.
"The alliance would enable us to bring the expertise necessary to capitalize on the desires of many regional and foreign investors who are seeking to play a significant role in the region’s economic development and are willing to invest across the Arab region, Africa and Asia," said the firm.
EFG Hermes said the both firms share a common vision with respect to the future prospects of various markets including Egypt and other high-potential economies in Africa and Asia.
"Our primary objective in these discussions will be to create an investment banking platform that will play a vital role in the flow of foreign capital into the region while enabling Arab investors to participate in future investment opportunities in the regions that will fall under the umbrella of this new platform," said EFG Hermes.
Qatar Financial Centre Authority granted license to QInvest in April 2007, which has authorized capital of $1bn and paid up capital of $750m.
