​'As part of EFG Hermes’ strategy to expand its regional presence into Arab markets, we have entered into an agreement to acquire 51 percent of Vision Securities Co. LLC, one of Oman’s leading local brokers,' says Hassan Heikal, Co-Chairman and CEO of EFG Hermes. 'We will pay $15.3m for the 51% interest and will assume management control over the business.' 'The transaction is still subject to finalization of share transfers in Oman and relevant regulatory approvals,' adds Heikal. This continues EFG Hermes’ strong regional expansion drive in recent years, with the entrance into the Omani market following the opening of offices in the UAE, Kingdom of Saudi Arabia and Qatar. Vision Securities Co. LLC maintained a market share of 9.2 percent and net profit after tax of $2.6m in 2007. Vision Investment Services Co. SAOC, previously the majority owner, will own the remaining 49% stake.