{"id":588909,"date":"2023-06-19T00:00:00","date_gmt":"2023-06-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/"},"modified":"2023-06-19T00:00:00","modified_gmt":"2023-06-19T00:00:00","slug":"b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/","title":{"rendered":"B Investments on course to acquire majority stake in Orascom Financial Holding"},"content":{"rendered":"

<\/span>B Investments<\/span> eyes a majority stake in Orascom Financial Holding: <\/span>EGX-listed <\/span>private equity firm B Investments submitted an offer to acquire 51-90% of EGX-listed Orascom Financial Holding (OFH), the companies said in disclosures to the EGX (<\/span>here, pdf<\/a><\/span> and <\/span>here, pdf<\/a><\/span>) yesterday. <\/span><\/p>\n

OFH majority shareholder wants to sell: <\/span>OFH\u2019s majority shareholder OTMT Acquisition and minority shareholder Orascom TMT Investments have agreed to sell their combined 51.72% stake in the company, OFH said. \u201cThe goal is to become part of a bigger entity with a strong track record in the market,\u201d <\/span>Orascom Financial Holding CEO Nils Bachtler told Enterprise yesterday.<\/span><\/p>\n

A share swap transaction: <\/span>The potential transaction is set to take place through a share swap agreement at a preliminary ratio of 1 share of B Investments total share capital (160 mn shares) for 56.76 shares of OFH share capital (4.7 bn after excluding treasury shares), according to the statements. <\/span><\/p>\n

Expect the transaction to wrap up in 3Q<\/span>, B Investments\u2019 IR head Omar El Labban told Enterprise yesterday. Information about the due diligence processes and the fair value study of the potential transaction wasn\u2019t made public.<\/span><\/p>\n

OFH fits within B Investments' strategy:<\/span> \u201cWe target investments that cater to the wider demographics of Egypt in consumer-driven sectors and in seasoned management teams operating in growing companies such as Contact Financial Holding \u2014 of which OFH owns a 30% stake,\u201d El Labban told us. \u201cAfter our two successful exits of <\/span>Giza Systems<\/a><\/span> and <\/span>TotalEnergies Egypt<\/a><\/span>, we are very keen on growing our investment portfolio and driving further growth to our shareholders. Our partnership with OFH is an integral part of our long-term investment strategy,\u201d El Labban added.<\/span><\/p>\n

The valuation could change: <\/span>B Investments will appoint an independent financial advisor to determine the fair value of both companies to the potential transaction, which could result in a change to the initial share swap ratio, the statements read. <\/span><\/p>\n

What\u2019s next? <\/span>B Investments shareholders will vote at an extraordinary general assembly meeting on a capital increase to issue new shares for the purpose of the potential transaction. <\/span><\/p>\n

The company will then have to submit all necessary documents to the relevant regulatory bodies including the Financial Regulatory Authority. Once approved, the regulator will give OFH shareholders a deadline in which to respond to the offer. <\/span><\/p>\n

OFH by the numbers:<\/span> The company\u2019s net income declined 28% y-o-y to EGP 19.8 mn in 1Q 2023, down from EGP 27.4 mn, according to <\/span>a disclosure to the EGX<\/a><\/span>. <\/span><\/p>\n

Market reax:<\/span>OFH\u2019s share price closed 19.8% up at EGP 0.29 yesterday, and B Investments close<\/span>d 6.7% up at EGP 21.77.<\/span><\/p>\n

Advisors: <\/span>Zaki Hashem & Partners was appointed legal advisor of B Investments, while OFH appointed White & Case as its legal advisor, according to El Labban.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

B Investments could soon become Orascom Financial Holding\u2019s majority shareholder<\/p>\n","protected":false},"author":1,"featured_media":588910,"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":[140,72,503,7128,553,10695,758],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-588909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-b-investments","tag-enterpriseam","tag-financial-services","tag-ma-watch","tag-orascom-financial-holding","tag-otmt-acquisition","tag-private-equity","wpautop","entry"],"acf":{"mongo_id":"2e645d45-8b1e-4b12-b031-fddc5eb16c1a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/865.jpg","photo_position":"above","homepage_title":"","full_issue_title":"B Investments bids to acquire up to 90% of Orascom Financial Holding","related_issue":[588902],"teaser":"B Investments could soon become Orascom Financial Holding\u2019s majority shareholder","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.b44e5eeb-2d04-48c8-85c0-47bfc565c1c0.mp3"},"yoast_head":"\nB Investments on course to acquire majority stake in Orascom Financial Holding - 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\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"B Investments on course to acquire majority stake in Orascom Financial Holding\" \/>\n<meta property=\"og:description\" content=\"B Investments could soon become Orascom Financial Holding\u2019s majority shareholder\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-19T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/865.jpg?fit=%2C&ssl=1\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"B Investments on course to acquire majority stake in Orascom Financial Holding\",\"datePublished\":\"2023-06-19T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/\"},\"wordCount\":459,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/865.jpg?fit=%2C&ssl=1\",\"keywords\":[\"B Investments\",\"EnterpriseAM\",\"financial services\",\"M&A Watch\",\"Orascom Financial Holding\",\"OTMT Acquisition\",\"private equity\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/b-investments-on-course-to-acquire-majority-stake-in-orascom-financial-holding\/\",\"name\":\"B Investments on course to acquire majority stake in Orascom Financial Holding - 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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":547989,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/","url_meta":{"origin":588909,"position":3},"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":611923,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/","url_meta":{"origin":588909,"position":4},"title":"B Investments\u2019 board approves Orascom Financial acquisition bid","author":"enterpriseam admin","date":"14 December 2023","format":false,"excerpt":"B Investments approved a plan to submit the MTO back in June","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\/2023\/12\/969.jpg?fit=%2C&ssl=1&resize=350%2C200","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":588909,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/588909","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=588909"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/588909\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/588902"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/588910"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=588909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=588909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=588909"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=588909"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=588909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}