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Chimera Investments acquires 56% of Beltone Financial

Chimera Investments acquires 56% of Beltone Financial

Arab Finance: Chimera Investments has acquired a 56% stake or 259.21 million shares in Beltone Financial Holding (BTFH) for around EGP 385 million, equivalent to EGP 1.485 per share, Asharq Business reported on August 3rd.

The takeover has been carried out through Chimera’s mandatory tender offer (MTO) for up to 90% of Beltone, which expired on August 3rd.

On June 13, Orascom Financial Holding (OFH) announced that Beltone had received a mandatory purchase offer from the Abu Dhabi-based private investment firm Chimera Investments for a stake between 51% and 90% at a price of EGP 1.485 per share.

Beltone is an Egypt-based company, which operates within the diversified financial sector focusing on investment banking and brokerage.

 

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