Raya receives 24 offers for Aman Holding minority stake

M&A WATCH- The number of investors wanting in on Raya’s Aman Holding minority stake doubles in a week: Twenty-four domestic and international investors have now submitted bids to acquire a minority stake in Raya subsidiary Aman Holding, up from 12 last week, Chairperson Medhat Khalil said, according to Al Shorouk. Aman Holding was set up earlier this month to parent Raya’s three non-banking financial service arms — Aman for Financial Services, Aman for E-Payments, and Aman for Microfinance. The company has EGP 375 mn in capital and holds 99% stakes in the former two businesses and a 74.5% stake in the latter.