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EFG Holding S.A.E. announced on December 6, 2023, that it has completed its exit from Jordan. This transaction was concluded with United Financial Investments Company (UFICO) and follows EFG Holding's January 17, 2023 disclosure of its intention to exit three markets. EFG Holding stated the exit will have a minimal impact on its 2023 financial statements and marks the starting point for strategic cooperation with UFICO in the Jordanian market.
| Date | 6 Dec 2023 |
| Time | 12:54:01 |
| Category | Miscellaneous |
| ID | 9082V |
EFG Holding Exits Jordan
Cairo, December 6th, 2023:
Further to our disclosure on the 17th of January 2023, which accentuated our intention to exit three markets, in an effort to drive shareholders' value by simplifying our operations, re-directing our resources and improving our return on equity metric, EFG Holding announces that it has completed its exit from Jordan. The transaction was concluded with United Financial Investments Company (UFICO) and is the starting point for strategic cooperation between EFG Holding and UFICO in the Jordanian market.
EFG Holding remains strongly committed to the remaining core markets in which it operates, and we do not expect to exit any other market apart from as highlighted in our earlier disclosure in January. Additionally, the exit will have a minimal impact on our 2023 financial statements.
For further information:
Investor Relations Department
Email: investor-relations@efg-hermes.com
Tel: +20 (0)2 35356710
Fax: +20 (0)2 3535 7017
Head of Corporate Strategy & Investor Relations - Hanzada Nessim
Email: hnessim@efg-hermes.com
Tel: +20 (0)2 35356502
Fax: +20(0)2 3535 7017
www.efg-hermes.com