Monday, May 20, 2024
HomeStartup NewsB Investments Acquires Orascom Financial Holding

B Investments Acquires Orascom Financial Holding

B Investments Holding finished acquiring a 90% share in Orascom Financial Holding. The acquisition represents B Investments' proactive strategy and strategic vision, and it was completed on April 17, 2024, following regulatory approval from the Financial Regulatory Authority in February.

B Investments Holding finished acquiring a 90% share in Orascom Financial Holding. The acquisition represents B Investments’ proactive strategy and strategic vision, and it was completed on April 17, 2024, following regulatory approval from the Financial Regulatory Authority in February.

Following preemptive measures taken by B Investments in January 2024, when its shareholders approved a capital increase from EGP 800.12 million to EGP 1.17 billion, comes this strategic deal.

The purpose of this cash infusion was to strengthen B Investments’ position in the financial industry and prepare the way for the ensuing purchase procedure.

Read also – Singapore-Based Seedflex Seures Seed Funding

A dynamic picture is painted by the financial performance of both organisations prior to the acquisition. Consolidated net earnings for B Investments saw a sharp decrease, falling from EGP 1.33 billion to EGP 693.76 million by December 31, 2023.

Conversely, Orascom Financial Holding underwent a notable reversal, going from EGP 133.39 million in net losses in 2022 to EGP 20.45 million in net profits after taxes during the same time.

Read also – Singapore-Based SWAT Mobility Raises $7.2 Million in Funding

B Investments positions itself for improved market presence and diverse products by incorporating Orascom Financial Holding into its portfolio. This puts it in a position to take advantage of new opportunities in the changing financial landscape.

About B Investments

B Investments is a growth capital and private equity business situated in Egypt that actively adds value to its portfolio companies by drawing on a variety of experience.

About Orascom Financial Holding

Orascom Financial Holding is a technology-driven financial services investment company led by an experienced team with financial and technology experience.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular