(Corrects value of bid in first paragraph to $257 million, not
CAIRO, June 18 Egypt's financial regulator has
approved a $257 million joint bid by Beltone and
billionaire Naguib Sawiris for a 20 percent stake in EFG Hermes
, the head of the Egyptian Financial Supervisory
Authority, Sharif Samy, said on Wednesday.
The offer for a stake in one of the largest investment banks
in the Middle East could point to a revival of dealmaking in
Egyptian equities after more than three years of stagnation
following the overthrow of Hosni Mubarak in 2011.
(Reporting by Ehab Farouk; Editing by Pravin Char)