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Chimera Investment has confirmed Dalia Khorshid as the new Beltone CEO. Image Credit: Shutterstock

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.

- Syed Basar Shueb, Chairman of Chimera Investment

Dalia Khorshid is the new CEO of Beltone.