REDESIGN 1-Egypt's EFG-Hermes says fair fees 30 pct more than Beltone-New Egypt bid

(Adds regulator not objecting to extension of bid period)

CAIRO, June 28 (Reuters) guideline EFG Hermes iPhone cover said on

Wednesday an independent financial adviser had determine its fair share

price at twenty-two. 93 Egyptian pounds ($3. 21) whereas the price offered

by Beltone and New Egypt Investment Financing for a stake in the bank

The offer for a stake in the Egyptian financial investment bank could

help to revive dealmaking in Egyptian equities after more than

four years of stagnation following the overthrow behind Hosni

EFG Hermes iPhone 5S case appointed Cairo-based HC Securities & Investment

in may to evaluate the fair value of its own shares and help

shareholders decide or perhaps not to accept an offer to acquire a 20

pct stake in the bank at of sixteen pounds per share.

"We realize that the price offered... is less than the ritterlich

value of the share, " EFG Hermes said in a statement.

Beltone and Egyptian billionaire Naguib Sawiris are offering

around $257 million for that EFG stake, with the offer official document

stating that EFG will also be given the chance to take over

the financial array that owns 17 companies operating in

investment and asset operation activities among other

EFG Hermes has said it does not consider it "economically

viable" to accept the proposal to acquire Beltone Group,

including Beltone Financial Holding and Beltone Financial for

F?lge and Management of Portfolios as PE Funds.

"Now it is difficult for that deal to succeed, " said Karim

Abdel Aziz, equities funds consultant at the National Bank of

Egypt. "The fair price is a lot beyond the Sawiris-Beltone

The offer was to run until July 3, although

financial regulator said after conclusion of trading on Thursday when

it had no objection to stretching out it until July 6 considering that next

Tuesday the stock exchange will continue closed.

EFG Hermes in 2012 agreed upon a deal with Qatar's QInvest to be

spin off part of its assets to offer an investment bank with

operations occupying the Middle East, Africa and Ultra lean beef. But the

deal fell through basically did another previous Sawiris-backed current.

EFG Hermes is one of the Middle East's biggest investment

banks, with work in Egypt, Saudi Arabia, the The united states of america Arab

Emirates, Kuwait, Jordan, Lebanon, Oman and Qatar.

The government behind Dubai owned 11 percent behind EFG Hermes as of

the end behind March, making it the biggest shareholder, as per

to Thomson Reuters data. EFG has a free float of about 67

The bid-offer submitted to Egypt's financial regulator said

that Latest Egypt Investment Fund would use 17. 82 percent of EFG

Hermes, while Beltone planned to get 1 . 09 percent and

Beltone Capital Holding would acquire a single 1 . 09 percent.

EFG Hermes shares closed at 15. thirty five Egyptian pounds on

(Reporting courtesy of - Ehab Farouk; Writing by Lin Noueihed and Shadia