{"id":618705,"date":"2024-04-18T00:00:00","date_gmt":"2024-04-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/"},"modified":"2024-04-18T00:00:00","modified_gmt":"2024-04-18T00:00:00","slug":"b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/","title":{"rendered":"B Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to offer"},"content":{"rendered":"

B Investments is one step closer to snapping up a majority stake in OFH:<\/strong> Orascom Financial Holding (OFH) shareholders have responded to private equity firm B Investments\u2019 MTO for a majority stake in the company. Owners of some 3.3 bn shares \u2014 a 69% stake in the company \u2014 have responded to the offer, according to two EGX bulletins (here<\/a> and here<\/a>). <\/p>\n

The stake is in the <\/strong>mid-range<\/strong> of what B Investments was shooting for:<\/strong> B Investments wanted to acquire up to 90% of OFH and no less than 51% of the company \u2014 since the stake on offer is greater than the acceptance threshold, the acquisition process will go through.<\/p>\n

Background:<\/strong> The EGX last week extended<\/a> the MTO for OFH because of the Eid Al Fitr break and shareholders had until the end of yesterday\u2019s trading session to respond to the offer. The Financial Regulatory Authority last month pushed the deadline<\/a> to 15 April.<\/p>\n

What\u2019s next? <\/strong>B Investments will now need to complete the share swap \u2014 its board had agreed in December to a share swap ratio of one B Investments share to 56.76 OFH shares. <\/p>\n

It\u2019s been a long time coming:<\/strong> B Investments had approved a plan to submit the MTO back in June, but requested a deadline extension in September. <\/p>\n","protected":false},"excerpt":{"rendered":"

B Investments wanted to acquire up to 90% of OFH and no less than 51% of the company<\/p>\n","protected":false},"author":1,"featured_media":618706,"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":[140,72,7128,553],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-b-investments","tag-enterpriseam","tag-ma-watch","tag-orascom-financial-holding","wpautop","entry"],"acf":{"mongo_id":"0339856a-4d62-475d-a6b3-89cf87212625","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1224.jpg","photo_position":"above","homepage_title":"B Investments eye 90% of Orascom Financial Holding","full_issue_title":"B Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to offer","related_issue":[618693],"teaser":"B Investments wanted to acquire up to 90% of OFH and no less than 51% of the company","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.ca404016-5e39-421e-956f-74eaf269d858.mp3"},"yoast_head":"\nB Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to 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\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"B Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to offer\" \/>\n<meta property=\"og:description\" content=\"B Investments wanted to acquire up to 90% of OFH and no less than 51% of the company\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-18T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1224.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"B Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to offer\",\"datePublished\":\"2024-04-18T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\"},\"wordCount\":222,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1224.jpg?fit=%2C&ssl=1\",\"keywords\":[\"B Investments\",\"EnterpriseAM\",\"M&A Watch\",\"Orascom Financial Holding\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\",\"name\":\"B Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to offer - 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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":616241,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/","url_meta":{"origin":618705,"position":3},"title":"B Investments granted more time to submit MTO for OFH. PLUS: Agthia ups stake in Abu Auf, Basata acquires Jordanian fintech stake","author":"enterpriseam admin","date":"3 March 2024","format":false,"excerpt":"B Investments wants to submit an MTO for up to 90% of Orascom Financial Holding","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\/2024\/3\/11.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":618705,"position":4},"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). 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":618705,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618705","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=618705"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618705\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/618693"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/618706"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=618705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=618705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=618705"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=618705"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=618705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}