{"id":611923,"date":"2023-12-14T00:00:00","date_gmt":"2023-12-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/"},"modified":"2023-12-14T00:00:00","modified_gmt":"2023-12-14T00:00:00","slug":"b-investments-board-approves-orascom-financial-acquisition-bid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/","title":{"rendered":"B Investments\u2019 board approves Orascom Financial acquisition bid"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>B Investments\u2019 move for Orascom Financial Holding MTO advances: <\/strong>B Investments\u2019 board of directors has approved a mandatory tender offer (MTO) to acquire up to 90% of Orascom Financial Holding (OFH) (c. 4.2 bn shares) via a share swap, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/968.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a> on Tuesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The board agreed to an MTO swap ratio of one B Investments share to 56.76 OFH shares. To enable the swap, the board approved raising its issued share capital from EGP 800 mn to EGP 1.2 bn through the issuance of 75 mn shares at a par value EGP 5 per share. The board also put the share premium per share at EGP 20.22 to accommodate the share swap ratio.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>B Investments has called for an extraordinary general meeting to approve the capital increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wrapped in two months?<\/strong> B Investments expects the acquisition to wrap in February after the Financial Regulatory Authority has given its blessing to the MTO, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4khjhjba\" style=\"\" rel=\"noopener\">Asharq Business<\/a> quoted the company\u2019s Chairman Hazem Barakat as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming: <\/strong>B Investments had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e645d45-8b1e-4b12-b031-fddc5eb16c1a\" style=\"\" rel=\"noopener\">approved a plan<\/a> to submit the MTO back in June, but <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/947809e6-17d4-440a-aea1-3c60de7c3753\" style=\"\" rel=\"noopener\">requested<\/a> a deadline extension in September.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>B Investments approved a plan to submit the MTO back in June<\/p>\n","protected":false},"author":1,"featured_media":611924,"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],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611923","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","wpautop","entry"],"acf":{"mongo_id":"a461dfe3-788c-4372-a4f4-12d212a4f53e","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/969.jpg","photo_position":"above","homepage_title":"","full_issue_title":"B Investments\u2019 board approves Orascom Financial acquisition bid","related_issue":[611912],"teaser":"B Investments approved a plan to submit the MTO back in June","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.9b15024b-6372-4db6-b494-54e54a6bdf1e.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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PLUS: Al Ahly Capital Holding acquires 51% stake in Easy Lease","author":"enterpriseam admin","date":"24 April 2024","format":false,"excerpt":"B Investments will now need to complete the share swap","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\/2024\/4\/1707.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":618705,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/","url_meta":{"origin":611923,"position":3},"title":"B Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to offer","author":"enterpriseam admin","date":"18 April 2024","format":false,"excerpt":"B Investments wanted to acquire up to 90% of OFH and no less than 51% of the company","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\/2024\/4\/1224.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":611923,"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 &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":616070,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/28\/fra-approves-b-investments-acquisition-of-orascom-financial-plus-synergy-capital-ras-el-hekma-egyptian-healthcare-authority-qalaa-holdings-green-hydrogen\/","url_meta":{"origin":611923,"position":5},"title":"FRA approves B Investments\u2019 acquisition of Orascom Financial. PLUS: Synergy Capital, Ras El Hekma, Egyptian Healthcare Authority, Qalaa Holdings, green hydrogen","author":"enterpriseam admin","date":"28 February 2024","format":false,"excerpt":"B Investment' board in December agreed to an MTO swap ratio of one B Investments share to 56.76 OFH shares","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1375.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\/611923","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=611923"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611923\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/611912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/611924"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=611923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=611923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=611923"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=611923"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=611923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}