Dubai: Abu Dhabi-headquartered Chimera Investment has bought 55.9 per cent in Egypt’s Beltone Financial Holding for 1.485 Egyptian pounds a share. For Chimera, this part of its broader strategy towards ‘long-term value creation investments’ expands its presence in regional economies.
Beltone, set up in 2006, is a financial services provider in Egypt offering brokerage, investment banking, asset management, equity research services, and a wide range of NBFI (non-banking financial) services that include leasing, consumer finance, and venture capital platforms.
A listed company on EGX, it is regulated by the Financial Regulatory Authority of Egypt.
We will, over the coming period, look to unlock value and implement an all-encompassing transformation plan, aimed at restoring growth and profitability to Beltone.
Dalia Khorshid is the new CEO of Beltone.