Chimpe 1 Investment, an entity affiliated with Chimera Investment, has acquired a majority stake (56%) in Beltone Financial Holding at EGP 384.8 million (approx. $20.11 million).
The acquisition came as part of Chimera Investment’s plans to grow its presence and expand its footprint in the MENA region
Beltone Financial Holding SAE is an Egypt-based company, which operates within the diversified financial sector focusing on investment banking and brokerage.
Before the implementation of the deal, Orascom Financial Holding owned 55.9 percent of Beltone Financial Holding Company.
Matouk Bassiouny & Hennawy advised Chimpe 1 Investment on the deal. The MBH team was led by partner and head of capital markets Mohamed Abdel Fattah (pictured) and included partner Mariam Auda, senior associates Mohamed Galal and Khaled Abdel Wahab.