Dubai Financial Group sells stake in EFG-Hermes to Natixis

Dubai Financial Group (‘DFG’), a subsidiary of Dubai Group, has sold its 11.8% interest in EFG-Hermes Holding Company S.A E (EFG) to Natixis Group (Natixis) as part of debt restructuring, the group said on Sunday.
 
A European banking leader, Natixis has an extensive international presence with offices in Europe, the Americas, Africa, Asia and Australia.
 
"The sale of our stake in EFG Hermes is consistent with the business plan for Dubai Group, which was agreed with its lenders as part of the restructuring agreement," Fadel Al Ali, Chairman, Dubai Group, commented in a press release.