Reacap board approves acquisition of Al Naeem Holding stake in Al Naeem Consulting Services

M&A WATCH- Reacap to acquire Naeem Consulting Services for EGP 47.45 mn: The Reacap Financial Investments board approved on Sunday plans to acquire Naeem Holding’s 98% stake in Naeem Consulting Services for EGP 47.45 mn, it said in a bourse disclosure (pdf). Shareholders will vote on the move during an ordinary general assembly on 30 December. Naeem Holding owns a 47.61% stake in Reacap.