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EFG Hermes buys big stake in French wind energy firm

Leading Arab investment bank buys 49 percent of EDPR France in a $208 million deal

Ahram Online, Wednesday 1 Oct 2014
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EFG Hermes has bought a 49 percent stake in EDPR France, a wind energy company, for $208 million, EFG said in a press release on Wednesday. 

“Our first investment beyond the borders of the Middle East and Africa is a natural outgrowth of our emphasis on infrastructure private equity and, moreover, marks the launch of our direct investment strategy,” said EFG Hermes co-CEO Karim Awad.

EFG revealed that under the terms of the agreement, its private equity arm will manage the investment vehicle, while EDPR France will retain operational control over the acquired assets. 

EDPR France has been in the French market since 2005 when it acquired a major wind farm portfolio.

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