{"id":547456,"date":"2022-06-22T04:26:57","date_gmt":"2022-06-22T04:26:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/"},"modified":"2022-06-22T04:26:57","modified_gmt":"2022-06-22T04:26:57","slug":"chimera-makes-official-offer-for-beltone-financial","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/","title":{"rendered":"Chimera makes official offer for Beltone Financial"},"content":{"rendered":"

<\/a> The Financial Regulatory Authority (FRA) has received an official offer by <\/strong>Chimera <\/strong>Investments <\/strong>to acquire up to 90% of Beltone Financial<\/strong>, the regulator said in a disclosure to the EGX (pdf)<\/a> yesterday. The Abu Dhabi-based investment firm has offered to purchase up to 417.1 mn shares in the financial services company for EGP 1.485 a piece in a mandatory tender offer, the regulator said, valuing the company at around EGP 690 mn by our math. Chimera will need to acquire a minimum 51% stake in Beltone for the offer \u2014 which will trigger an MTO \u2014 to go through, the statement reads.<\/p>\n

Is WM Consultancy out of the picture?<\/strong> This comes a week after Chimera first lodged its interest<\/a> in acquiring Beltone with a bid that offered a 10% premium on the offer made by WM Consultancy<\/a> a week earlier. The consultancy \u2014 helmed by a former Beltone exec and representing an unidentified consortium of investors \u2014 had offered to purchase the shares for EGP 1.35 apiece. The financial services firm initially gave WM the go-ahead<\/a> to start due diligence but asked the FRA to halt the process<\/a> after receiving Chimera\u2019s rival bid.<\/p>\n

The regulator is mulling it over:<\/strong> The FRA is currently studying Chimera\u2019s offer, it said yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Financial Regulatory Authority (FRA) has received an official offer by Chimera Investments to acquire up to 90% of Beltone Financial, the regulator said in a disclosure to the EGX (pdf) yesterday. The Abu Dhabi-based investment firm has offered to purchase up to 417.1 mn shares in the financial services company for EGP 1.485 a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[2078,72,76,503,7128,1999],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547456","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-chimera-investments","tag-enterpriseam","tag-financial-regulatory-authority","tag-financial-services","tag-ma-watch","tag-wm-consultancy","wpautop","entry"],"acf":{"mongo_id":"87891e6c-e1e4-43e2-b979-03cc61acde2a","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[547441],"teaser":"","voice_url":""},"yoast_head":"\nChimera makes official offer for Beltone Financial - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chimera makes official offer for Beltone Financial\" \/>\n<meta property=\"og:description\" content=\"The Financial Regulatory Authority (FRA) has received an official offer by Chimera Investments to acquire up to 90% of Beltone Financial, the regulator said in a disclosure to the EGX (pdf) yesterday. The Abu Dhabi-based investment firm has offered to purchase up to 417.1 mn shares in the financial services company for EGP 1.485 a […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-22T04:26:57+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Chimera makes official offer for Beltone Financial\",\"datePublished\":\"2022-06-22T04:26:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/\"},\"wordCount\":207,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Chimera Investments\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"financial services\",\"M&A Watch\",\"WM Consultancy\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/\",\"name\":\"Chimera makes official offer for Beltone Financial - 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Wink wink, Chimera","author":"enterpriseam admin","date":"14 June 2022","format":false,"excerpt":"Beltone halts WM due diligence after Chimera enters the chat: Beltone Financial has suspended the WM Consultancy-led consortium from doing due diligence after receiving a rival offer from Chimera Investments on Sunday. The financial services company had given WM the go-ahead to start due diligence last week but has been\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/cheater-meme-1600x.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547200,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/bidding-war-over-beltone-afoot\/","url_meta":{"origin":547456,"position":1},"title":"Bidding war over Beltone afoot?","author":"enterpriseam admin","date":"13 June 2022","format":false,"excerpt":"UAE\u2019s Chimera puts in an offer for Beltone: Our friends at Abu-Dhabi based investment firm Chimera Investments have submitted a non-binding offer to acquire a controlling stake in Beltone Financial, according to a statement (pdf) by the Financial Regulatory Authority (FRA) and disclosures by Chimera (pdf) and Beltone (pdf).The breakdown:\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547954,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/20\/fra-approves-chimeras-bid-to-acquire-beltone\/","url_meta":{"origin":547456,"position":2},"title":"FRA approves Chimera\u2019s bid to acquire Beltone","author":"enterpriseam admin","date":"20 July 2022","format":false,"excerpt":"Chimera is one step closer to acquiring Beltone: Chimera Investments\u2019 bid to acquire up to 90% of Beltone Financial is poised to go through after getting the Financial Regulatory Authority\u2019s (FRA) stamp of approval, the regulator said in a disclosure to the EGX (pdf) yesterday.Refresher: Chimera filed in June for\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/206.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548344,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/","url_meta":{"origin":547456,"position":3},"title":"Chimera is getting 56% of Beltone, and no more","author":"enterpriseam admin","date":"4 August 2022","format":false,"excerpt":"It\u2019s official: Chimera is Beltone\u2019s new majority shareholder: Chimera Investments acquired a 56% stake in Beltone Financial through its mandatory tender offer for up to 90% of the company, which expired yesterday, the EGX said (pdf). The Abu Dhabi-based investment company will acquire the stake from Orascom Financial Holding (OFH),\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548135,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/","url_meta":{"origin":547456,"position":4},"title":"Chimera will get at least 56% of Beltone after OFH accepts offer","author":"enterpriseam admin","date":"27 July 2022","format":false,"excerpt":"Orascom Financial sells Beltone stake to Chimera: Chimera Investments will acquire at least 56% of Beltone Financial after Orascom Financial Holding (OFH) decided on Monday to sell its entire stake in the financial services firm, according to a disclosure to the EGX (pdf) from OFH yesterday. The Abu Dhabi-based investment\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/284.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547989,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/","url_meta":{"origin":547456,"position":5},"title":"Beltone has 10 days to decide on Chimera\u2019s takeover bid","author":"enterpriseam admin","date":"21 July 2022","format":false,"excerpt":"Beltone Financial has until 3 August to come to a decision on Chimera Investments\u2019 bid to acquire up to 90% of its shares, the EGX said (pdf) yesterday. 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