RIYADH: UAE’s Chimera Investments has submitted a mandatory non-binding offer to the Egyptian Financial Regulatory Authority for the acquisition of investment bank Beltone Financial Holding.
The offer includes the acquisition of no less than 51 percent to 90 percent of Beltone’s shares at 1.485 Egyptian pounds ($0.079) per share, according to Al arabiya.
In its initial offer, Chimera is offering 13.5 plates per share, which is a higher price than the 1.35 plates per share offered last week by the WM consortium to acquire Beltone.
