{"id":548344,"date":"2022-08-04T03:58:10","date_gmt":"2022-08-04T03:58:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/"},"modified":"2022-08-04T03:58:10","modified_gmt":"2022-08-04T03:58:10","slug":"chimera-is-getting-56-of-beltone-and-no-more","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/","title":{"rendered":"Chimera is getting 56% of Beltone, and no more"},"content":{"rendered":"

<\/a> It\u2019s official: <\/strong>Chimera is Beltone\u2019s new majority shareholder:<\/strong> 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)<\/a>. The Abu Dhabi-based investment company will acquire the stake from Orascom Financial Holding (OFH), which last week agreed to sell all of its 259.1 mn shares<\/a> in the company.<\/p>\n

No more takers: <\/strong>Other shareholders failed to respond to the offer by the deadline yesterday, with Chimera adding less than 150 shares to the stake acquired from OFH. Only three individual minority shareholders \u2014 each with stakes of less than 1k shares each \u2014 responded to the offer, Al Mal<\/a>reports, citing unnamed sources. The remaining shares not held by OFH are publicly traded on the EGX.<\/p>\n

Not tempting enough? <\/strong>Chimera offered to pay EGP 1.485 per Beltone share, valuing the firm at some EGP 690 mn. Beltone shares closed up 3% at EGP 1.76 yesterday<\/p>\n

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

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), which last week agreed to […]<\/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":[2078,72,503,7128,553],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548344","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-chimera-investments","tag-enterpriseam","tag-financial-services","tag-ma-watch","tag-orascom-financial-holding","wpautop","entry"],"acf":{"mongo_id":"40303139-6bd0-4c73-a30a-57bb74e74a45","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[548338],"teaser":"","voice_url":""},"yoast_head":"\nChimera is getting 56% of Beltone, and no more - 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\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chimera is getting 56% of Beltone, and no more\" \/>\n<meta property=\"og:description\" content=\"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), which last week agreed to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-04T03:58:10+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\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Chimera is getting 56% of Beltone, and no more\",\"datePublished\":\"2022-08-04T03:58:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/\"},\"wordCount\":168,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Chimera Investments\",\"EnterpriseAM\",\"financial services\",\"M&A Watch\",\"Orascom Financial Holding\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more\/\",\"name\":\"Chimera is getting 56% of Beltone, and no more - 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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":547954,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/20\/fra-approves-chimeras-bid-to-acquire-beltone\/","url_meta":{"origin":548344,"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":548344,"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":548344,"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":581537,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/15\/ripplewood-flips-big-part-of-its-efg-hermes-stake-to-chimera-others\/","url_meta":{"origin":548344,"position":4},"title":"Ripplewood flips big part of its EFG Hermes stake to Chimera, others","author":"enterpriseam admin","date":"15 February 2023","format":false,"excerpt":"Collins and Ripplewood are long-time investors in Egypt","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":549070,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/01\/beltone-elects-new-board-members-following-chimera-acquisition\/","url_meta":{"origin":548344,"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). 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