Sovereign Fund of Egypt and EFG-Hermes Holding S.A.E (CASE:HRHO) are expected to close the acquisition of a 76% stake in Arab Investment Bank (AIB) before the end of 2020 through a capital increase exercise, Egypt's Al Mal newspaper reported. The acquisition will see EFG take a 51% stake and the SFE up to 25% in AIB, the two investors said in a June. The Sovereign Fund for Egypt will purchase the stake through its newly established EGP 30 billion ($1.9 billion) financial services sub-fund, SFE Chief Executive Officer Ayman Soliman told Al Mal, from state-owned National Investment Bank, Egypt's development bank.