The Egyptian Beltone Financial Holding Company announced the signing of a contract to purchase 100% of Cash Microfinance Company, after completing the due diligence procedures.
Beltone added, in a statement on the Egyptian Stock Exchange website, that the completion of the transfer of ownership of shares is conditional on the approval of the Egyptian Financial Supervisory Authority.
Beltone, which operates in the financial services sector in Egypt, the Middle East and North Africa, announced the start of due diligence procedures in August.
The company, which was founded in 2006, has been expanding its services since the UAE’s Chimera Investment Company acquired more than 55% of its shares in August last year.
As for Cash for Microfinance, it is a company operating in Upper Egypt and headquartered in Minya, and was established in 2020, according to its LinkedIn account data and local media.
(Prepared by: The Editorial Team, Edited by: Reem Shams El Din, Contact: zawya.arabic@lseg.com)
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2023-09-04 09:09:11
#Beltone #announces #signing #contract #purchase #Cash #Finance
