Azimut completes acquisition of Rasmala asset management subsidiary

M&A WATCH- Azimut completes acquisition of Rasmala subsidiary in EGP 211.3 mn transaction: Italy-based asset manager Azimut Group acquired 100% of Rasmala Egypt Asset Management (REAM) from its parent company Rasmala Group, according to the local press. Azimut bought 499k shares for EGP 211.3 mn. Azimut had signed the agreement to acquire REAM back in January, and the Financial Regulatory Authority gave the green light for the transaction last week.