Al Ahly Capital Holding now owns 97.6% of Easy Lease, after the National Bank of Egypt’s investment arm acquired an additional 93.1 mn shares — equivalent to a 46.6% stake — of the local financial leasing services provider from Elsewedy Capital for an undisclosed sum, according to a statement (pdf). The share increase comes after the company acquired a 51% stake in Easy Lease back in April.

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Behind the acquisition: Al Ahly Capital Managing Director Karim Saada said the acquisition came under its strategy to enhance lending activity within its NBFIs.

Advisors: Al Tamimi & Company served as legal advisors, while Al Ahly Pharos acted as financial advisor. Al Ahly Pharos Securities Brokerage was the broker for the transaction.

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