{"id":548135,"date":"2022-07-27T04:00:55","date_gmt":"2022-07-27T04:00:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/"},"modified":"2022-07-27T04:00:55","modified_gmt":"2022-07-27T04:00:55","slug":"chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/","title":{"rendered":"Chimera will get at least 56% of Beltone after OFH accepts offer"},"content":{"rendered":"

<\/a> Orascom Financial sells Beltone stake to Chimera:<\/strong> 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)<\/a> from OFH yesterday. The Abu Dhabi-based investment company is bidding to acquire up to 90% of Beltone and needed shareholders to sell 51% of the company\u2019s shares through the ongoing mandatory tender offer (MTO) for the transaction to go through. Shareholders have until 3 August to respond to Chimera\u2019s offer.<\/p>\n

The offer:<\/strong> Chimera has offered to pay EGP 1.485 per share<\/a> for up to 90% of Beltone, valuing it at around EGP 690 mn.<\/p>\n

The remaining 45% of the company\u2019s shares are publicly-traded.<\/strong> The EGX will announce the result of the MTO when it expires next week.<\/p>\n

Market reax:<\/strong> Beltone\u2019s shares fell 1.8% on the EGX following the announcement yesterday while OFH gained 1.6%.<\/p>\n

Advisors: <\/strong>Matouk Bassiouny & Hennawy is providing counsel to Chimera Investments.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 company is bidding to acquire […]<\/p>\n","protected":false},"author":1,"featured_media":548136,"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":[2078,72,503,7128,553],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-chimera-investments","tag-enterpriseam","tag-financial-services","tag-ma-watch","tag-orascom-financial-holding","wpautop","entry"],"acf":{"mongo_id":"8d08b767-4583-4e55-bec6-5c9c8aca0637","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/284.jpg","photo_position":"above","related_issue":[548125],"teaser":"","voice_url":""},"yoast_head":"\nChimera will get at least 56% of Beltone after OFH accepts offer - 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\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chimera will get at least 56% of Beltone after OFH accepts offer\" \/>\n<meta property=\"og:description\" content=\"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. 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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":547954,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/20\/fra-approves-chimeras-bid-to-acquire-beltone\/","url_meta":{"origin":548135,"position":1},"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":547989,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/","url_meta":{"origin":548135,"position":2},"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. The Abu Dhabi-based investment firm submitted a bid to acquire the shares for EGP 1.485 apiece in June, an offer that values\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":547200,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/bidding-war-over-beltone-afoot\/","url_meta":{"origin":548135,"position":3},"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":548780,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/22\/ofh-is-setting-up-a-fund-for-tech-startups\/","url_meta":{"origin":548135,"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 "NON-BANK FINANCIAL SERVICES"","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":549070,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/01\/beltone-elects-new-board-members-following-chimera-acquisition\/","url_meta":{"origin":548135,"position":5},"title":"Beltone elects new board members following Chimera acquisition","author":"enterpriseam admin","date":"1 September 2022","format":false,"excerpt":"Beltone Financial shareholders have elected four new board members as part of its restructuring of the board following Chimera Investments\u2019 acquisition of a majority stake in the firm, according to an EGX disclosure (pdf). For a period of three years, the board will now include: Dalia Khorshid (LinkedIn) as managing\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"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\/548135","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=548135"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548135\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548136"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548135"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548135"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}