bank shareholders agreement with the Egyptian OK Qinvest

  DUBAI, United Arab Emirates (AP) - Egyptian bank EFG Hermes said the majority of the shareholders approved an agreement to merge the lender with some operations Qinvest Qatar.

Sunday's vote is nearing the end of an agreement, which aims to create an investment bank serving the Arab world and beyond.

The companies have. In May by some combination of their activities Egyptian Financial Regulator ordered later EFG Hermes to provide additional information to shareholders to approve the transaction before it.

Qinvest hold a 60 percent stake in the new company first to see if the regulators approve the transaction.

EFG Hermes is the bank increased investment in Egypt. Its shareholders include Abu Dhabi Investment Authority, Dubai Financial Group and HSBC. Qinvest is a private bank in the energy-rich Gulf state of Qatar.