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ODIN Investments acquires Alfa Capital for EGP 50M

ODIN Investments acquires Alfa Capital for EGP 50M

ArabFinance: ODIN Investments (ODIN) has fully acquired Alfa Capital Holding with total investments worth EGP 50 million, Chairman Hashem el Sayed told Al Mal News on May 30th.

El Sayed added that the company plans to transfer into an investment bank over the coming period.

The transaction was finalized last week after obtaining all required approvals from the Financial Regulatory Authority (FRA).

ODIN Investment reported a 15% Year on Year increase in its consolidated net loss in 2020, suffering EGP 2.48 million.

ODIN, formerly known as Egyptians Abroad for Investment and Development Company, aims to attract funds from Egyptians living abroad and invest them in the ongoing development of Egypt, with a focus on the real estate and financial services sectors.

 

 

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