{"id":612942,"date":"2024-01-04T00:00:00","date_gmt":"2024-01-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/04\/beltone-chimera-part-of-new-abu-dhabi-holdco-with-usd-27-bn-in-assets\/"},"modified":"2024-01-04T00:00:00","modified_gmt":"2024-01-04T00:00:00","slug":"beltone-chimera-part-of-new-abu-dhabi-holdco-with-usd-27-bn-in-assets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/04\/beltone-chimera-part-of-new-abu-dhabi-holdco-with-usd-27-bn-in-assets\/","title":{"rendered":"Beltone, Chimera part of new Abu Dhabi holdco with >USD 27 bn in assets"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Introducing 2PointZero: <\/strong>Abu Dhabi\u2019s USD 239 bn International Holding Company(IHC) has set up a new holding company named 2PointZero expected to hold more than AED 100 bn worth of assets \u2014 equivalent to USD 27 bn \u2014 including Beltone Financial Holding, Chimera, and Lunate, according to an IHC <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/195.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The local angle: <\/strong>Cairo-headquartered Beltone has returned to life under a new management team and ambitions in the region and beyond under CEO Dalia Khorshid and her team. Chimera, led by regional finance veteran Seif Fikry, has invested heavily in Egypt, including in Beltone, GB Lease, MNT-Halan, and a small stake in EFG Holding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2PointZero will also hold <\/strong><strong>crypto mining player Citadel Technologies<\/strong>, Middle-East focused Sagasse Investments, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d93707b4-9ff3-4be0-b16c-d84b263290f4\" style=\"\" rel=\"noopener\">private-markets focused firm Lunate<\/a>, as well as Abu Dhabi\u2019s International Resources Holding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201c2PointZero is committed to having a transformative impact globally. Ourdedication to technology and Artificial Intelligence is evident in our commitment to developing solutions that redefine industries such as financial services, investment banking, and resource management,\u201d IHC Chairman Sheikh Tahnoon bin Zayed Al Nahyan said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Sheikh Tahnoon is the UAE\u2019s national security advisor and a leading business figure in the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ownership breakdown: <\/strong>IHC will own 87% of 2PointZero, the company told <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/wealth\/wealth-management\/royal-group-assets-to-be-transferred-into-2pointzero-abu-dhabis-ihc-says-jtnzo879\" style=\"\" rel=\"noopener\">Reuters<\/a><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/wealth\/wealth-management\/royal-group-assets-to-be-transferred-into-2pointzero-abu-dhabis-ihc-says-jtnzo879\" style=\"\" rel=\"noopener\"><\/a> without disclosing who will own the remaining 13%. Sheikh Tahnoon\u2019s Royal Group owns some 61% of IHC. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news received coverage from: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/abu-dhabis-ihc-forms-new-hold-co-with-expected-assets-exceed-27-bln-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-03\/abu-dhabi-royal-sets-up-new-firm-to-hold-27-billion-in-assets\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The assets include Egypt\u2019s Beltone Financial, Chimera Investments, Citadel Technologies, Sagasse Investments, Lunate, and International Resources Holding<\/p>\n","protected":false},"author":1,"featured_media":612943,"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":[7272],"tags":[7342,812,72,7341,125],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-612942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-2pointzero","tag-beltone-financial","tag-enterpriseam","tag-ihc","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"2f3b4b1a-9a7e-4d38-9099-8bef287578d8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2087.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Beltone, Chimera part of new Abu Dhabi holdco with >USD 27 bn in assets","related_issue":[612933],"teaser":"The assets include Egypt\u2019s Beltone Financial, Chimera Investments, Citadel Technologies, Sagasse Investments, Lunate, and International Resources Holding","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.873c1459-6a30-469f-947e-505d352e8518.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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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":612942,"position":1},"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). 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