OHD selects EFG Hermes to advise on sale of Tamweel Financial Holdings

Orascom Hotels & Development (OHD) has selected EFG Hermes to act financial adviser on the sale of its financial services subsidiary Tamweel Financial Holdings, said OHD CEO Khaled Bichara, who provided no further detail on the transaction, Al Borsa. He added that the company has had to shutter four of the seven hotels it owns in Taba on account of low occupancy.