Italy’s Azimut Group acquires 100% Rasmala Egypt Asset Management

M&A WATCH- Italy’s Azimut Group acquires 100% of Rasmala subsidiary: Italy-based asset manager Azimut Group inked an agreement yesterday to acquire 100% of Rasmala Egypt Asset Management (REAM) from its parent company Rasmala Group, according to a company press release (pdf). REAM, one of Egypt’s largest independent asset managers, will be renamed Azimut Egypt Asset Management. Azimut says it sees potential in Egypt’s youthful population and the fact that the country has “one of the highest GDP-PPP adjusted per capita in the EM complex excluding energy/commodity exporters countries.”