{"id":547989,"date":"2022-07-21T04:00:24","date_gmt":"2022-07-21T04:00:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/"},"modified":"2022-07-21T04:00:24","modified_gmt":"2022-07-21T04:00:24","slug":"beltone-has-10-days-to-decide-on-chimeras-takeover-bid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/","title":{"rendered":"Beltone has 10 days to decide on Chimera\u2019s takeover bid"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Beltone Financial has until 3 August to come to a decision on Chimera<\/strong> <strong>Investments\u2019 bid<\/strong> to acquire up to 90% of its shares, <a href=\"https:\/\/ent.news\/2022\/7\/Screenshot-2022-07-20-141654.pdf\">the EGX said (pdf)<\/a> yesterday. The Abu Dhabi-based investment firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87891e6c-e1e4-43e2-b979-03cc61acde2a\">submitted a bid<\/a> to acquire the shares for EGP 1.485 apiece in June, an offer that values the company at around EGP 690 mn. The offer was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa29ca31-5b82-416f-908d-63bd5f9b7db6\">approved<\/a> by the Financial Regulatory Authority (FRA) on Tuesday.<\/p>\n<p><strong>Majority shareholder OFH is mulilng the offer, which has received FRA approval, and plans to come to a decision in the coming days<\/strong>, CEO Nils Bachtler told Enterprise earlier this week. It\u2019s not yet clear how big of a stake Orascom Financial Holding (OFH) could offer up, but Bachtler said that \u201call options are open\u201d and that the decision will be made once the board concludes its discussions. OFH owns around 58% of the company with the rest in freefloat.<\/p>\n<p><strong>What now? <\/strong>Shareholders owning at least 51% of Beltone\u2019s shares must agree to sell for the acquisition to go through. Chimera has the right to adjust its offer price throughout the process.<\/p>\n<p><strong>Advisors:<\/strong> Chimera has tapped Matouk Bassiouny & Hennawy as legal counsel to the Abu Dhabi-based fund.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. The Abu Dhabi-based investment firm submitted a bid to acquire the shares for EGP 1.485 apiece in June, an offer that values the company at around EGP [&hellip;]<\/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":[2078,72,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547989","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-chimera-investments","tag-enterpriseam","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"25696f65-d9a0-47de-8813-d00160c7499c","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[547983],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Beltone has 10 days to decide on Chimera\u2019s takeover bid - 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\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beltone has 10 days to decide on Chimera\u2019s takeover bid\" \/>\n<meta property=\"og:description\" content=\"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. The Abu Dhabi-based investment firm submitted a bid to acquire the shares for EGP 1.485 apiece in June, an offer that values the company at around EGP [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-21T04:00:24+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\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Beltone has 10 days to decide on Chimera\u2019s takeover bid\",\"datePublished\":\"2022-07-21T04:00:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\"},\"wordCount\":202,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Chimera Investments\",\"EnterpriseAM\",\"M&amp;A Watch\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\",\"name\":\"Beltone has 10 days to decide on Chimera\u2019s takeover bid - 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The Abu Dhabi-based investment\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":548344,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/","url_meta":{"origin":547989,"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 &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":548780,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/22\/ofh-is-setting-up-a-fund-for-tech-startups\/","url_meta":{"origin":547989,"position":4},"title":"OFH is setting up a fund for tech startups","author":"enterpriseam admin","date":"22 August 2022","format":false,"excerpt":"OFH swaps Beltone for fintech: Orascom Financial Holding (OFH) is using the sale of itsshares in Beltone Financial to expand its footprint in the tech space. The company is planning to establish a EGP 300-500 mn tech fund and invest in its fintech venture Klivvr using some of the proceeds\u2026","rel":"","context":"In &quot;NON-BANK FINANCIAL SERVICES&quot;","block_context":{"text":"NON-BANK FINANCIAL SERVICES","link":"https:\/\/enterpriseam.com\/egypt\/category\/non-bank-financial-services\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547456,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/","url_meta":{"origin":547989,"position":5},"title":"Chimera makes official offer for Beltone Financial","author":"enterpriseam admin","date":"22 June 2022","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=547989"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547989\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547983"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547989"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547989"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}