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EFG-Hermes to acquire majority stake in Vision Securities

In continuation of the strategy to expand its regional presence, investment bank EFG-Hermes has signed an agreement to acquire a 51% stake in Oman-based Vision Securities.

EFG-Hermes will pay $15.3 million for the 51% interest and will assume management control over the business. The finalization of the transaction is subject to the transfer of share ownership to EFG-Hermes in Oman and the relevant regulatory approvals.

Vision Investment Services will own the remaining 49% stake.